50 Hertz

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@BreizhLondon +15 years of zirp

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@jp_JellyRoll @Finumus1 Do you believe they will keep their purchase power over 30 years?

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@FundamentEdge @dcfdude Does the team bonus comes out of the pass-through expenses or out of the 20% performance fee?

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@cortisquared Loin d’être en complet désaccord avec vous sur la cherté de l’immobilier en France, mais vous ne pouvez pas comparer un rendement de 3% réel (immo) avec un rendement de 3% nominal (compte a titre).

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@FIREvLondon Yes but you are missing out on the tax advantage of owning the gilt directly (you are only paying taxes on the coupon, the roll-up is tax free).

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@cortisquared Expatriation ?

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@cortisquared Je ne parle même pas du fait que de faire un all-in sur sa résidence, c’est pas vraiment une bonne idée sur le long terme (pas de compounding).

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@cortisquared 40 ans de baisse sur les taux et de brainwashing sur “la pierre, valeur refuge” ne vont pas disparaître du jour au lendemain.

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@Finumus1 Ibkr pays decent interest on cash no?

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@Finumus1 @IronEconomist Also given the shape of the bond curve and the ERP at a 20y low, it wouldn’t borrow short term to buy stocks and LT bonds (but what do I know)

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@Finumus1 @IronEconomist In a world where equities and LT bonds are inversely correlated- yes. Not really the case anymore, at least for the moment.

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@IronEconomist @Finumus1 I understand holding it now as a short term play (recession, …) but i think holding any long duration nominal gbp-denominated asset is a dangerous game.

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@IronEconomist @Finumus1 With debt/gdp being > 100%, do you think there is any chance than holding a 25y gilt to maturity will give a positive return in real terms?

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@pdragoumis @Finumus1 2.3% real rate is a pretty big deal when your debt/gbp is > 100%. When all the debt rolls, you need your gdp to grow 2.3%+ in real terms just to cover your debt interest payments. Good luck with that.

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@Finumus1 @mathtick It’s also probably the first debt they default on :)

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@TortoiseCapital @Finumus1 @pdragoumis Check your DMs @Finumus1

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@Finumus1 @FIREvLondon @IBKR Fwiw I can see the change in my individual account. The FIC account is unchanged.

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@Finumus1 US Tips are pretty good at these levels. The only question is if they are considered deeply discounted securities or not.