February 06, 2021

Note Taking, Cloning, and Idol Worship | A Market in Replacement Capital

1 hour 7 minutes

In this episode, John Mihaljevic hosts a discussion of (1) note-taking, cloning, and idol worship; and (2) a quote by Marathon Asset Management: "The stock market is really a market in replacement capital: if new capacity is urgently needed in any sector, a boom can be relied upon to produce the necessary capital."

Phil Ordway talks about note-taking while reading, the usefulness of sound bites, cloning, idol worship, and a document he made about a decade ago. We discuss the benefits of journaling and some of the nuances around copying the investments of so-called superinvestors.

Elliot Turner talks about the Marathon quote mentioned above, and what it means to him. We discuss the level of investment in the economy and specific sectors. We attempt to draw conclusions regarding the equity market outlook, albeit without much conviction.

Enjoy the discussion!

The content of this podcast is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this podcast. The podcast participants and their affiliates may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated on this podcast.

...more