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2min chapter
Reverse Ponzi Scheme
The Compound and Friends
The Benchmark Lottery
30 % of her drawdown was due to the compani's being, on average junker. 22 % on average more expensive than the market. So those two things combined are really con tat to have et half her drawdown,. While half her draw down is there was no value in the stocks, or that they were overvalued. Another way of saying it is like when you buy art, you're buying like, two things. You're buying innovation, but you're also buying expensive junk stocks. Are these things really coming to hurter?
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