This Week on The Compound
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EPISODES
On TCAF this week Josh and Michael spoke with returning guest Edward Yardeni, President and Chief Investment Strategist at Yardeni Research. They discussed the case for the Roaring 2020s, why Ed sees no recession through the end of the decade, his S&P 500 target of 10,000, whether AI is fueling an earnings bubble, rising profit margins and productivity, why this market is different from 1999, the broadening bull market, hyperscaler spending and credit risk, bond vigilantes, the Fed, and what the bears keep getting wrong. (Listen)
YOUNG MONEY
It was a big week for prior TCAF guest Jack Raines. His first book Young Money: A Field Guide to Wealth and Purpose in Your Twenties just dropped. This week has was talking about the book on: Ask the Compound with Ben Carlson, Masters in Business with Barry Ritholtz, and also did a two-part book Q&A on Abnormal Returns.
INSIDE THE COMPOUND
Leverage, in conjunction with concentration and illiquidity, is a portfolio killer. Ben Carlson at A Wealth of Common Sense writes about why survival is an investor’s main job:
Levering your portfolio at 5x is simply too risky, especially now that the stock market moves at lightning speed. You can be right about the long-term but not make it there intact if you get margin called.
MERCH
Summer is officially here, so grab a Compound Serif hat to help the keep the sun out of your eyes. You can always check out all our merch at idontshop.com.
COMING UP
Next week on TCAF, Josh and Michael will be joined by Todd Sohn, Chief ETF Strategist at Baird Strategas.
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