Author Topic: 2019 Annual Letter Out  (Read 12361 times)

LC

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Re: 2019 Annual Letter Out
« Reply #70 on: February 25, 2020, 07:59:39 AM »
Quote
3.) both he and Charlie do not understand negative interest rates and they have no idea how things will play out in the coming years.

On this point, I would suggest reviewing the performance of Eurozone banks in their era of negative rates. The banks simply cannot make money in such an environment.
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longinvestor

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Re: 2019 Annual Letter Out
« Reply #71 on: February 25, 2020, 09:20:46 AM »
I’ll go with Munger’s line on the environment we’re in; “If you’re not confused by it, you’ve not thought about it”. I’d leave it at that.