The Three Body Problem - The Impact of Quality on the Price of Companies

Over the past eight and a half years, quality has been an absolutely useless investment derivative. The chart begins on march ninth, two thousand nine, when the fed launched its first c e programme. You've made a grand total of not quite three % on your investment, while the s and p 500 is up almost 300%. That's not a typo. Central banks don't care about rewarding good companies. Have the quality stocks in your portfolio gone up? Sure, but it's not because of the qualitiness of the companies. It's because all stocks have gone up. Ever since object three, the balance sheets of central banks, started exerting its massive gravity on everything but quality.