093: Versus “The Gathering Darkness,” Part 2 - Support Ownership of Great Businesses With an Adult Memory
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In this episode I unravel the fabric of the 1970s—a decade of economic turmoil—and extract the golden threads of wisdom that are just as relevant to today's investor. We'll challenge the fallacy that "this time is different," shining a light on the enduring power of human ingenuity and the resilience of the market. It's a story that celebrates the remarkable ability of great companies to thrive amid uncertainty, and it's a story that I can't wait to share with you.
I'm genuinely thrilled to bring these historical insights to life, insights that empower us to craft investment strategies with a newfound confidence. By understanding the past, we pave the way for a future where our investments reflect the robustness of human progress, not the shadows of fear. So, come along and let's embrace the wisdom of history together—your financial peace of mind might just be a podcast episode away.
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Key Takeaways
00:00 Human Ingenuity in Investing
14:46 Great Companies Refusing to Lose Money
Tweetable Quotes
"The minute we decide to sit this one out or wait and see, or look for an all clear signal, we begin to fall behind."
"There is real suffering in the world. The headlines will always capture the current gathering darkness, but don't make the mistake of believing that the darkness any of it can overwhelm the inconceivable progress that's being made at the great companies of the US and the world all the time."
"The price is up 45 times because the earnings are up 40 times and the dividends are up 22 times, versus inflation, which is only up eight times in the same period."
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132 episode