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7min chapter
Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
Acquired
What's Going to Take a Long Time?
Three of the top ten companies to day were not public in two thousand and one. Apple, by the way, apples market cap, im notking to get this right, but apple's market capwas less than ten billion, i believe. Anda. Amazon was also, you know, six and a half or seven a billion dollars. Now they're one point extraion, or whatever it is. So there is just huge amounts of wealth sloshing around. We should have relatively muted expectations for returns in all asset classes.
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