"It completely changed my life as an investor. Without it, I would have been limited to my own personal experience. By studying others, you're able to learn vicariously. It's a form of leverage."
Interesting idea, curious why he used alpha vs annualized net for some. Nomad for example if i take their letters it looks like 20% net. Terry Smith should be in there but maybe not long-term enough, Baillie Gifford too, surprised no Ackman?
Yield + growth is what both "value" and "growth" ppl do, value bet heavily just on yield, growth says growth will be so strong that yield in terminal year will be dirt cheap.
Interesting idea, curious why he used alpha vs annualized net for some. Nomad for example if i take their letters it looks like 20% net. Terry Smith should be in there but maybe not long-term enough, Baillie Gifford too, surprised no Ackman?
Yield + growth is what both "value" and "growth" ppl do, value bet heavily just on yield, growth says growth will be so strong that yield in terminal year will be dirt cheap.