Last weekend I questioned whether markets could break out to the upside; or perform what trader’s refer to as a “back and fill”. My best guess was the latter. In turns out, things traded ‘per the script’, where the S&P 500 suffered its worst week since March 2023 – giving back 4.20%. The Nasdaq fared far worse – shedding ~6% – led by large losses in popular AI chip stocks. So why are market’s worried? It’s concerns about growth. With a market trading close to ~22x forward earnings – expecting YoY EPS growth of 11% — that’s not consistent with ‘slowdown’ scenario.
"Charlie Munger"
Charlie: More than a Brilliant Investor
“The best thing a human being can do is to help another human being know more” – Charlie Munger. Very few things will change your trajectory in life (and/or business) as much as learning and education.The more you dedicate your time to obtaining knowledge – the better you will be. But take it a step further… the pathway your life takes will be a function of the decisions you make. Which begs the question – how does one make higher-quality decisions and/or fewer mistakes? Charlie Munger offered us a framework of mental models to do just that… this will be his real legacy.
For a full list of posts from 2017…