He thinks investors are using the rearview mirror today.
Investors are buying bonds which have performed well over the past decade but have a mathematical impossibility of doing so going forward. Meanwhile investors are avoiding large cap stocks which have returned zero over the last decade but are cheaper than they have been since the fifties.
H/T: Canadian Value
When it comes to finding future business champions, Warren Buffett and Charlie Munger have really excelled over the past seven decades. Q3 2021 hedge fund letters, conferences and more One could argue that these two individuals are some of the best growth investors of all time, thanks to their ability to spot companies like Coca-Cola Read More