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4min chapter
Mohnish Pabrai's Presentation and Q&A at MDI, Gurgaon on December 22, 2015
Chai with Pabrai
The History of the Federal Reserve
In the last 50 years, you have never had the cost of capital as low. Also money in the US is here until last year. But then what happened to the velocity of capital? So this equation was more of the value. The Fed kept only control on the fact that you have to go. And so all that money that came into the system and did the cost of Capital being as low as it is,. This is the same chart showing you how the money supply increased. I don't need to explain to you this graph.
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