In a world of change and disruption, the classification of businesses cannot be a static endeavour.
“So, on one hand, “it’s different this time” is a recurring bull-market cliche that always bears scrutiny and on the other hand, failing to recognize when things actually are different is something that stands between the average investor and superiority.”
“Being complacent about the amount of superfluous noise in financial markets is not a viable option, if we don’t find a way to guard against it, it will quickly come to define our investment approach.”
“Where macro policy had once provided stability, it has now become a source of uncertainty.”
“You’ll pay anything for shares in an AI company.. but almost nothing for shares in a mining company. Even tho AI is 100% dependent on mining.”
“So, on one hand, “it’s different this time” is a recurring bull-market cliche that always bears scrutiny and on the other hand, failing to recognize when things actually are different is something that stands between the average investor and superiority.”
“Being complacent about the amount of superfluous noise in financial markets is not a viable option, if we don’t find a way to guard against it, it will quickly come to define our investment approach.”
“Where macro policy had once provided stability, it has now become a source of uncertainty.”
“You’ll pay anything for shares in an AI company.. but almost nothing for shares in a mining company. Even tho AI is 100% dependent on mining.”