A friend just sent me this clip. A good many truths lie herein. Just one stand out observation is that today the money business has replaced a focus on fiduciary and stewardship with a focus on ‘gathering your assets and taking a piece before you take them back from us again.”
Unfortunately, trend following participants play a leading role in their own poor results. True value managers have moved like tortoises amid price-indicriminant hares over the last 5 years. But as in the old fable, tortoises always beat hares over full market cycles. Today complacent hares are due for a period of deep comeuppance.
Mark Yusko, CIO and managing director of Morgan Creek Capital Management, talks with Grant Williams about how technological advancements have impacted the finance industry. Yusko discusses that investing strategies come in and out of fashion and how that applies to markets today. Here is a direct video link.
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