"The only good economist I have found is the stock market. People say it has predicted seven out of the last four recessions. That’s still better than any economist I know.” Stanley Druckenmiller
It was great to read how diverse the opinions of even the most successful minds in investing were at that time - it just puts everything into perspective, especially when one is again tempted to throw all humbleness overboard and try to predict the next turn of the market.
It was great to read how diverse the opinions of even the most successful minds in investing were at that time - it just puts everything into perspective, especially when one is again tempted to throw all humbleness overboard and try to predict the next turn of the market.
Glad you enjoyed it, Mark! A reminder that even the best are wrong frequently and that it's very difficult to predict the next big move.
Hi Frederik,
I just wanted to mention that I link your piece here in this:
https://www.libertyrpf.com/p/272-shopify-vs-amazon-logistics-microsoft
Cheers! 💚 🥃
Thanks!
Excellent piece Frederik.
Thank you, Conor!
Very nice discussion of how a market crash restores diversity of opinion, and with it, market stability and coherence.
Glad you enjoyed it, Russ!