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#25: Jonathan Tepper On The Single Most Important Question Investors Should Be Asking Right Now

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Myth of Capitalism

A shortage of workers from a demi- you know demographic standpoint that pushes up wages combine that with another dynamic that we're seeing which is the tendency towards nationalism and de-globalization. I was having arguments over beers in London when Piketty's book came out and my friends were saying well capitalism itself has a fatal flaw, he says. If profit margins don't mean revert then something's seriously wrong according to Jeremy Grantham. The real question for investors is are there a superior class of companies now that are in dominant positions? He asks if this cyclical Pples position is sustainable it could lead to higher inflationary dynamics.

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