Links🔗: Food for Thought

Below you find the most interesting investment-related content and thought-provoking articels I stumbled about in the recent past. Enjoy reads about following topics: Equity Risk Premium (ERP), Visibility, surging distressed Debt, fixed income performacne …
  • Dr Hendrik Leber (Acatis) giving a German interview to Forbes, talking about
    • airports as shopping malls, tech companies,
  • Guy Spier talks at google about the idea of inner and external score cards (from Warren Buffett)
    • answers the question Why You Should Invest in Stocks?
      • comparing stock investing and a favorable game of roulette
      • related: read my comparison between equity investments and poker, based on the elements: skill, luck and hidden information
    • with another post about portfolio construction and their historic performance (variations), drawdowns etc. I believe there is one important fact to keep in your mind when looking at data comparing historic performacne of equity- and bond-investments:
      • during the last 40 years (US) interest rates came way lower puishing fixed income returns. Likely at a scale we will not experience in the next 40 years…

Best and happy investing, s4v

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