The Long View
Daniel Rasmussen: ‘Be Very Wary of Illiquid Asset Classes’
May 6, 2025
Daniel Rasmussen, founder of Verdad Advisors and author of 'The Humble Investor,' shares insights from his impressive finance background. He emphasizes the importance of historical context in investment decisions. Rasmussen critiques private equity for its inflated valuations and high risks, advocating for caution in selecting illiquid assets. He discusses the unpredictability of markets and the value of understanding volatility. Additionally, he highlights opportunities in smaller companies and shares strategies for navigating economic uncertainties.
53:15
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Quick takeaways
- Investing success is enhanced by historical analysis, allowing investors to draw lessons from the past for better decision-making.
- Humility is crucial for investors, as acknowledging the unpredictability of the future helps avoid the pitfalls of overconfidence.
Deep dives
The Influence of Historical Perspective on Investing
An interesting insight shared by the guest illustrates how a background in history can contribute to success in investment management. The guest emphasizes that investing is akin to betting on ideas drawn from historical analysis, suggesting that lessons from the past can inform better investment decisions. This understanding positions historical context as a tool for navigating current and future market conditions, enhancing decision-making capabilities. The speaker suggests that a historian's approach can lead to uncovering profitable insights that may not be evident from a purely economic or financial standpoint.
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