I think what he's saying also though is just pattern recognition and that it took him that much time. I only started making macro calls 30 years into my investing journey. Is it too soon to know if he got this right or wrong? He brings up sea change in the memo. He defends it. He believes that his observations were still correct. Things have already changed so quickly.
Another positive sign for the travel industry as Delta raises guidance.
(00:21) Bill Barker and Deidre Woollard discuss: - The surge in international travel and where Delta’s next revenue bump could come from. - What factors could slow the travel boom. - The curious allure of the many flavors of Doritos.
(15:11) The latest memo from Howard Marks takes a look at past cycles. Deidre Woollard and Ricky Mulvey explore the memo and the danger of focusing too much on the big macro.
Companies discussed: DAL, PEP
Host: Deidre Woollard Guests: Bill Barker, Ricky Mulvey Producer: Ricky Mulvey Engineers: Dan Boyd, Tim Sparks
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