David, Thanks for sharing. I respect the time invested and the sophistication you have cultivated. A couple questions. Re: AKRE, how do you see MC and VISA responding to crypto? What makes you feel value investing is a winner over the next decade? Why not just go with the best value investor in history BRK/B? Thanks in advance!
Great questions, and thanks. Regarding MC and Visa, my understanding is that they will still facilitate payments through stablecoin linked credit cards which are just beginning to launch now, so as long as CC's are still in use it will be a tailwind for them for the time being (maybe 5 years?). They've been pretty forward looking and early to crypto.
Essentially what I'm doing above is leaning less on indexes and more on specific value plays (with international diversification) to play equities. Aiming for lower PE multiples. I see this as a *hedge* against a higher growth equity and crypto portfolio.
So it's less of a forecast, more of a bet on balancing the other side of my portfolio being as *close* to real cashflows as possible as a strategy. Some of these funds have great track records even over the last decade where growth outperformed. Re: BRKB – I think it's also a great bet and was buying in 2022. I'm essentially diversifying managers with a similar strategy. You could easily just keep it simple and do BRKB! Hope that helps.
Also FWIW indexes are still a good option, this is a bet on slight outperformance over long time horizons, so it will take a long time to play out if correct.
David, Thanks for sharing. I respect the time invested and the sophistication you have cultivated. A couple questions. Re: AKRE, how do you see MC and VISA responding to crypto? What makes you feel value investing is a winner over the next decade? Why not just go with the best value investor in history BRK/B? Thanks in advance!
Great questions, and thanks. Regarding MC and Visa, my understanding is that they will still facilitate payments through stablecoin linked credit cards which are just beginning to launch now, so as long as CC's are still in use it will be a tailwind for them for the time being (maybe 5 years?). They've been pretty forward looking and early to crypto.
Essentially what I'm doing above is leaning less on indexes and more on specific value plays (with international diversification) to play equities. Aiming for lower PE multiples. I see this as a *hedge* against a higher growth equity and crypto portfolio.
So it's less of a forecast, more of a bet on balancing the other side of my portfolio being as *close* to real cashflows as possible as a strategy. Some of these funds have great track records even over the last decade where growth outperformed. Re: BRKB – I think it's also a great bet and was buying in 2022. I'm essentially diversifying managers with a similar strategy. You could easily just keep it simple and do BRKB! Hope that helps.
Also FWIW indexes are still a good option, this is a bet on slight outperformance over long time horizons, so it will take a long time to play out if correct.