Sublime

smallest portion of Yale’s endowment is targeted to deflation hedging assets—7.2 percent, well below the 12.7 percent allocation of the average university endowment:

But tech companies behave differently as they add a key feature to traditional supply-side economies of scale: network effects.

falling public expenditures on research and development (R&D) as a share of gross domestic product (GDP), especially in information technology.

not vary.

The massive shift to index funds over the past 15 years or so drove the valuations of the largest index components to levels which guarantee poor returns going forward. Poor returns, in turn, will guarantee these inflows will turn to outflows and the virtuous cycle will become a vicious one.” Or as Nassim Taleb says, “We have been fragilizing the e

When the accumulation drive hits short-term credit, real estate, and passive equity, that is when the party will really start.