• The Idea Farm
  • Posts
  • "The reports of my death have been greatly exaggerated"

"The reports of my death have been greatly exaggerated"

Author

The Idea Farm
January 28, 2024

“Part of the reason I’ve been a little more successful than most people is I’m good at destroying my own best-loved ideas.”

Charlie Munger

Research

Robeco explores the resurgence of the Value factor since the Covid-19 vaccine announcement roughly three years ago, with insights from ten key graphs.

AQR explains relationship between inflation and taxes, and why tax-efficiency becomes more valuable as inflation rises.

A Nominal Tax Rate of 23.8% turns into an Effective Tax Rate of:

*N/A here is technically an infinite tax rate, as the investor would pay taxes on a zero percent real return. See Beer, et al (2023) for more.

Facts & Figures

Here are a few great charts from Crestmont Research.

P/E beyond 2023 is an estimate only, there can be no assurance it will be achieved and actual results may vary substantially.

Plus one more chart from Bespoke Investment Group: “the S&P 500 has spent 44% of trading days since 1952 within 5% of an ATH compared to just 40.5% of the time when the index has been down 10% or more from an ATH.”

Podcasts

9/27/23 - 11 minutes

Morgan Housel talks about money and wealth in relation to eulogy virtues and resume virtues, and what actually leads to others having respect and admiration for you.

1/14/23 - 108 minutes

Ben Horowitz and Marc Andreessen discuss the twelve functions of the modern university and the challenges that universities face today.

Other Newsletters

For years, The Investor’s Podcast Network has chatted with some of the world’s best investors, like Ray Dalio, Joel Greenblatt, and Howard Marks. With 150+ million downloads, they make podcasts by investors, for investors. 

Now, they’re joining the newsletter space. Get smarter about markets and investing by reading their expert insights daily. 

Click here to sign up (for free) today