Day: February 9, 2021

Vexing Today’s Convex Pricing Behavior

[…] we find this environment to be the opportunity of a lifetime. Humans do one thing extremely well: they buy high and sell low. The majority of investors suffer stock market failure. In a Charlie Munger approach, you would invert today’s circumstances to recognize that there is a myriad of businesses that don’t require you to look into the future like the zero-coupon bond or the company that will someday produce free cash flow. In fact, you can buy many businesses for less than the value of their assets and not have to worry about the cash flow in the near-term or long-term.

⟶ Keep Reading
Scroll to Top