I read a lot of stuff every day, a lot. So much that I wonder if my brain actually processes half of it. The stuff that's memorable gets filed away somewhere. Here are six snippets that caught my attention this week that I thought I'd share:
1. The Cover Of New York Magazine
File this away under stuff you don't see at the checkout counter at market bottoms.
2. Five reasons to curb your enthusiasm
"Valuation is almost all that matters over the long term" ~ The average expected return for the S&P 500 from current levels over the next ten years is a meager 2%. Most investors overestimate the importance of the quality of the asset they are buying, and underestimate the importance of the price they are paying for that asset. If there is a street with ten houses on it, the best house is a 10,000 square feet luxury mansion but it's selling for $50 million, while the worst house is a 50 year old tear down that's selling for $200,000. I'll take the tear down, and I'll make money 9 times out of 10.
3. According to Goldman Sachs, copper is heading to US$5/lb within 12 months, and above US$7/lb in the next few years.
4. This chart needs no explanation. This is why I own gold, silver, and natural resource shares
5. Tech is the only group expected to witness decelerating earnings growth into the 2nd quarter of 2021:
6. 74% of BofA Fund Manager Survey respondents say Bitcoin is a bubble, while only 7% believe equities are in a bubble.
What is groupthink for $2,000 Alex?
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