The Week That Was (Feb 7th-11th, 2022)
A great business at a fair price is superior to a fair business at a great price. Charlie Munger
Careful with that axe, Eugene
In May 2000, the FED raised rates 50 bps as Greenspan was certain the economy was overheating. Prices had been rising steadily from mid 1999 and many backward looking indicators were red hot. He dismissed the lower long term interest rates as “contradictory.”
Unfortunately, the bond market ended up being correct. Prices did …
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