Definitive statements tend to separate “legends” from “losers”. “Legends” live in lore as women or men with the clairvoyance and courage to make a bold (and correct) prediction in a time of uncertainty. Think of Winston Churchill’s stirring speech: “Men will still say, ‘This was their finest hour.’ ”
The relative absence of borders limiting participation in global markets has enabled internationally-minded investors to find opportunities that domestic-minded investors might miss. Much like the Silk Road, which opened opportunities to traders throughout Asia, Europe, and Africa, those willing to invest internationally have generally been rewarded for doing so.
Warren Buffett is famous for his disdain of “investment strategies” that involve making small gains while taking big risks, even if those risks rarely erupt. He has described this approach using the above analogy, although he has said “pennies” instead of “millions”. In today’s $28 trillion US stock market, however, “millions” is a much more appropriate word.
In early April, one of the “wise
guy girl” talking heads released a video on the rise of robots where she claims that within a decade, we could be looking at dramatically different non-farm payroll data. In fact, she even quotes a Forrester study that suggests net-net, for every one job created, fifteen jobs will be lost.
The reaction to this edition of the Guest Evergreen Virtual Adviser (EVA) has the potential to be as incendiary as the subject matter itself.