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This Week on The Compound
This Week on The Compound
This week on TCAF, Josh and Michael were joined by Cole Wilcox, founder, CEO, and CIO of Longboard Asset Management. They discussed all things trend following, using systems to overcome emotion, technical analysis, and the new generation of investors. (Listen)
CHART OF THE WEEK
The U.S. stock market, by most measures, hit all-time highs this week. This makes contrarians nervous. They fear the market is ready to fall off the table. A look at market history should give you some comfort. The forward returns are nearly identical whether the market is at all-time highs or not. Could the stock market fall from here? Sure, that is always the case, but it won’t be because of the recent all-time highs.
OUTSIDE THE COMPOUND
The world feels increasingly weird for anyone born more than a few decades ago. It’s hard to tell the difference between reality and narrative. Don’t expect that to change anytime soon. Prior TCAF guest Kyla Scanlon writes:
Robert Shiller coined narrative economics, arguing that stories drive economic behavior. I think we are in a new iteration of all of this where the stories aren't just influencing economic activity, they are the economic activity. Attention is a precursor to wealth (in many ways) and speculation drives it.
MERCH
New Summer merch is here! Including the new Animal Spirits Summer Tee. Check it all out at idontshop.com.
COMING SOON
This week on TCAF, Josh and Michael will be joined by returning guest Joe Fahmy of Zor Capital and Shay Boloor, Chief Market Strategist at Futurum Equity Research and co-host of the Daily RIP Live.
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