Good read, thank you for writing. Counter to your counter - Microsoft was extremely dominant, but the PC market was close to saturated, and then they largely missed on mobile and search. Amazon today on other hand is extremely dominant, but ecommerce and cloud still have huge runways. Not saying that Amazon is indicative of the entire market. These are just two stocks we're discussing.
Aaron, thank you for sharing your experiences. I always learn and expand my thinking reading your insight and research. I am curious how you are thinking of the idiosyncratic risk and Fed action. Would the comparison to 1999 be any less relevant should the Fed continue to buy assets and injecting liquidity into the system, effectively "backstopping" material drawdowns?
Great article! Do you have a comparison of the valuation multiples and growth rate between the strongest businesses of 2000 vs Today. Maybe Microsoft, Cisco, Oracle, Adobe vs Shopify, etc
Good read, thank you for writing. Counter to your counter - Microsoft was extremely dominant, but the PC market was close to saturated, and then they largely missed on mobile and search. Amazon today on other hand is extremely dominant, but ecommerce and cloud still have huge runways. Not saying that Amazon is indicative of the entire market. These are just two stocks we're discussing.
Love the 3rd point in a market frenzy being people poking fun at Buffett saying he lost his touch
Aaron, thank you for sharing your experiences. I always learn and expand my thinking reading your insight and research. I am curious how you are thinking of the idiosyncratic risk and Fed action. Would the comparison to 1999 be any less relevant should the Fed continue to buy assets and injecting liquidity into the system, effectively "backstopping" material drawdowns?
Great article! Do you have a comparison of the valuation multiples and growth rate between the strongest businesses of 2000 vs Today. Maybe Microsoft, Cisco, Oracle, Adobe vs Shopify, etc