Forum Topics Quote of the Day
Timocracy
a month ago

“The most dangerous thing is to buy something at the peak of its popularity. At that point, all favourable facts and opinions are already factored into its price and no new buyers are left to emerge.” - Howard Marks, The Most Important Thing

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Apparently CM's birthday today. 99? the link has a 100 quotes, many you will be familiar with


https://twitter.com/QCompounding/status/1609550815731097603?t=bU0pP8acw1mCjAxYpg49-Q&s=08

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Chagsy
2 months ago

With rates at 1%, to have $100 in ten years’ time you must deposit $91 in a bank account today. With rates at 5%, you need only put away $61. The end of cheap money shortens investors’ horizons, forcing them to prefer immediate profits to those in the distant future. Growth stocks are out. Value is back in vogue.

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Solvetheriddle
2 months ago

@Chagsy interesting to hear that view, of course factually correct. I thought the seeds of value o/p was set with the discovery of the vaccine circa 10/20. took some time to become consensus though, just as i think the seeds for value demise are being seen now. what do i mean? to generalise, revenues for value is helped by inflation, especially in a relative sense, guess what the Fed are trying to kill. so being bullish value, at this point is to think the fed will fail or take much much longer to get inflation down. note--this is a relative argument with growth. i could be wrong, or most likely early--like before.

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Chagsy
2 months ago

Thanks @Solvetheriddle

I don’t have a particularly strong opinion either way, I just liked the way it was explained, so thought I would share!

If pushed I’d say investors are too late to go value and too early to go growth. So mostly I’m sitting on my hands trying not to overthink things.

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Bear77
2 months ago

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