#41: James Davolos On Protecting Yourself Against A Paradigm Shift In Inflation
Superinvestors and the Art of Worldly Wisdom
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The Argument for Asset-Like Companies
In an inflationary cycle, imagine rates, currencies, oil, cotton, hog bellies, soybeans, gold, copper, all of this stuff, having tremendous movement and volatility. And so that to me is the argument for these asset-like companies is that they have huge returns on invested capital. But in every example, somebody else is spending all of the money for you to make the money.
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