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20min chapter
Michael Mauboussin - Pattern Recognition and Public Markets (EP.370)
Capital Allocators – Inside the Institutional Investment Industry
Wealth Creation and Concentration in Public Markets
The chapter delves into the performance of public markets and the concentration of wealth creation among a small percentage of companies since the 1920s. It discusses the power law of compounding, indexing, fundamental investing, and challenges of managing superstar companies in a portfolio. The chapter also explores the dynamics of wealth creation in companies over different time horizons and the importance of focusing on percentage returns.
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Discover
highlights
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