Thanks Ferg. Re your comments about passive concentration in MAG7, you may enjoy Mike Green’s latest interview with Adam Taggart. Mike states that he is starting to see the first hints of structural outflows (from Boomer retirements) that will reverse this virtuous circle. This is the second time I have heard Mike say this recently (recent Grant Williams interview with Mike Taylor and Mike Green). Cheers John.
Your "Avoiding the Siren Song" piece is paid, so I'll add this here. About ship-builders: one view is that commercial ship-building is a sub-rosa sector of the defense industry. A country subsidizes its builders so that it can have a navy. If the builder goes bankrupt, the government will bail it out for wise reasons. Big investors can get a taste of the rebuilt company, but you won't. This same is true for aerospace. It's as if aerospace has stolen ship-builders' place in the hearts of the US and European governments.
Thanks Ferg. Re your comments about passive concentration in MAG7, you may enjoy Mike Green’s latest interview with Adam Taggart. Mike states that he is starting to see the first hints of structural outflows (from Boomer retirements) that will reverse this virtuous circle. This is the second time I have heard Mike say this recently (recent Grant Williams interview with Mike Taylor and Mike Green). Cheers John.
Thanks John, it's on the to watch list.
was an excellent discussion they had
A great read, thanks for sharing
Your "Avoiding the Siren Song" piece is paid, so I'll add this here. About ship-builders: one view is that commercial ship-building is a sub-rosa sector of the defense industry. A country subsidizes its builders so that it can have a navy. If the builder goes bankrupt, the government will bail it out for wise reasons. Big investors can get a taste of the rebuilt company, but you won't. This same is true for aerospace. It's as if aerospace has stolen ship-builders' place in the hearts of the US and European governments.
Prof Plum 99 interview, wen