The Office Of National Statistics in the United Kingdom has recently decided to add the income produced by drugs and prostitution in the calculation of the GDP. For those who don’t know what the GDP is, here is a short description: It is the total value of all goods and services produced in a country, with the addition of all exports, and the difference of the imports. With this new addition of the “shadow economy,” the GDP will grow significantly.
Shadow Economy In The United Kingdom GDP
Infographic source: babesoflondon.com
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More