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#374: Morgan Housel on the Psychology of Money

The Pomp Podcast

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Why Value Investing Hasn't Worked in the Last 15 Years?

The biggest trend for the past almost 40 years is just the level of interest rates. When you have, when your discount rate is so low, then what a company is going to earn this year does not make that much of a difference. The other thing is, of course, the Fed, which is just pulling out the Howard's in the bazookas and just blasting money throughout the economy.

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