The Relationship Between Interest Rates and Value Between Growth and Value

higher interest rates tend to be bad for companies that have lots of debt but then there's also the idea that the discount you know they're already discounted. Long duration bonds are not as sensitive to interest rate moves and so when you move the interest rates around it should impact the value firms less than they should perhaps be beneficiaries of slightly higher interest rates. Buffett's got this great discussion he's written this in one of his notes he contrasted these two 17 year periods one where interest rates were falling and onewhere interest rates were rising and the stock market performs very very well when interest rates were fall and it doesn't do is all when interest rates are rising. That would sort of intuitively make sense