Category: long term investing
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“The norm is not the average”
S&P 500 PE ratio above 23 historically resulted in 2-2% annualized returns over 10 years, with current PE ratio at 24, indicating low expected returns for the next decade.Oaktree Capital has consistently invested in high-yield bonds for 47 years, achieving 7-8% yields comparable to 10% S&P 500 returns, but taxes reduce after-tax returns to 4-7%.…
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Borrow to Pay
An explanation of how debt fueled spending makes world turn and what happens when lenders stop lending.
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America’s Biggest Mistake?
An interesting take from the the All in Podcast’s Sultan of Science. Personally, I wonder why the government and people are not happy with the loads of taxes they collect? What is wrong with passing a balanced budget amendment?
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“I don’t think it’s time to get out…
…It’s a matter of relative choices.” “No. 1, what’s going to happen? Nobody knows. His appointments are not firm, they have yet to be confirmed. his policies are not known. What is he going to do? Nobody really knows what he’s going to do? No. 2, What else will be going on in the world.…
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Bridgewater Outlook
Bridgewater Identify the Major Issues Facing Investors in the Years Ahead,” the speakers discuss various challenges investors will encounter in the coming years, including the sustainability of US exceptionalism, the US dollar’s strength, long-term bonds, Artificial Intelligence (AI), and China’s economy. US exceptionalism, driven by factors such as a large domestic market, responsive government policies, and…
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Thiel
Peter Thiel, a renowned Silicon Valley investor known for co-founding PayPal and Facebook, and backing companies like SpaceX and Stripe. Thiel emphasizes the importance of Founders and their unique visions, contrasting the 1990s Silicon Valley trend of replacing Founders with professional CEOs. He discusses his book “Zero to One,” which highlights the significance of creating something new…
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Top 15 Economies
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Chaos King
“It’s not just about making money during catastrophes…it’s about trying to protect ourselves from catastrophes” Nassim describes that most people prefer to sit on metaphorical dynamite for a steady stream of income. The primary goal at his firm Universa Investments is to benefit when the “steady” cashflow assets and trades cease to make money. Some…
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Klarman’s Tabula Rasa
Klarman/Baupost Holdings https://whalewisdom.com/filer/baupost-group-llc-ma