This mechanic was behind the conglomerate boom in the US in the 1960s. Ultimately it failed because you can’t fake growth with acquisitions, and you can’t sustain a high multiple with no regard for the underlying assets. Go look up Teledyne!https://twitter.com/jonwu_/status/1483644783629254661 …
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Cephalopod reading soros bear market confirmed
I’m generally skeptical of people who claim you can’t be a good trader without knowing market history, but occasionally it lets you spot someone recycling a 60 year old argument for a new market.
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You can be a good trader. But if you know history you can be an even better one. There are things you can learn without paying for them with PnL
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I like this perspective! neither necessary nor sufficient, but ceteris paribus probably helpful
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