2min chapter

Animal Spirits Podcast cover image

Do Valuations Matter? (EP.320)

Animal Spirits Podcast

CHAPTER

How to Lower Your Return Expectations in 2015-16

Investors could have never anticipated this time around, meaning say 2010 to today. Mega CapTech just completely shattered whatever relationship there might be between valuation and forward returns. I thought that lowering your return expectations in 2015-16 made a lot of sense. And luckily, it didn't matter.

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