Thought of the Day

"Failure is not fatal, but failure to change might be."

John Robert Wooden

New research suggests evolution might favor 'survival of the laziest'

August 21, 2018, University of Kansas

"Maybe in the long term the best evolutionary strategy for animals is to be lassitudinous and sluggish—the lower the metabolic rate, the more likely the species you belong to will survive," Lieberman said. "Instead of 'survival of the fittest,' maybe a better metaphor for the history of life is 'survival of the laziest' or at least 'survival of the sluggish.'"

A turtle can live up to 100 years and everything is slow and peacefull

In my business, Hedge Fund allocation i divided all the managers that i ever invested and divided them into two groups. the more volatile before investment and the less volatile (lower standard deviation)

we made 80%of total p&L from the less volatile and 20% from the more crazy ones.

Image result for how long lives a turtle

A platform company that buys from A and sells to B doesn't need a lot of capital. Apple buys and assemble their products in China and ship them to final customer with a huge margin. They spend money in R&D but that is nothing in a huge company like APPLE

perhaps America is the place where companies don't need a lot of capital and so they are buying back stock and offering no new IPO's. America is the place to be with a pro business administration etc.....

If we just Focus in the first (average gross income) and last columns (cost of living) we can see that Spain is the place to live in Europe and Greece is very expensive for what people make (place to avoid)

If someone has money and is trying to pick where to live just look at

security
sunny days per year
cost of living

I took this graph from Jornal Expresso, the best weekly newspaper

Because the companies make money and they don't distribute all of it. it's like a zero coupon bond it goes up and up.

Remember "The Death of Equities," BusinessWeek's seminal Aug. 13, 1979 cover story? It claimed that investors, burned by years of poor returns in the 1970s, had abandoned stocks for good.

PS At the time of this cover the Dow was at 885 points. 5 year later at 1227 and 10 years later at 2687 and now 25,952!

as you know i suspect that after the bull of 1982/2000 we had a 2000/2016 where the markets didn't progress and now we are in a new Bull Market

i intend to play it

Resultado de imagem para the death of equities cover

From Cliffwater Weekly macro

On the right, people bought tacos for cash and left. On the left, the blockchain taco booth is being held up by the first guy in line, who is still waiting for confirmation of his transaction!