Great follow-up podcast on “Sea Change” topic – “This Time Might Be Different” from OakTree / Howard Marks:

– Majority of current investment professionals (joined after 1980) have seen only climate where interest rates were declining, low or both.
– People think low interest rates are normal.
– Interest rates are not going to decline by 2000 bps anytime soon (1980 > 2020).
– Declining interest rates had an impact on economy growth, markets, asset prices and investors’ behavior.
– There is belief that declining and ultra-low rates are not going to happen soon and current rates to stay for longer (5-10Y).
– It’s a good time to be a high-quality lender.

Thus, now you can potentially get equity type returns from lower risk debt.

Susijusių įrašų nėra… Atsitiktiniai įrašai:

• “Milijonas” ir sudėtinės palūkanos
• Navigating Bull and Bear Markets: Insights from 50 Years Track Record
• M.Sincere: Understanding Stocks
• Investuotojo išpažintis, arba ką nutyli banko konsultantas.
• The Big Short: Inside the Doomsday Machine