I think about this quote often. The only alpha in markets is your difference in opinion vs consensus
If you just follow consensus, you are generating beta
That is fine for people who just want to track returns, but that is not what LPs pay you for if you are running a fund
I need to add, with the suit came a free tie, free shirt, and free socks. We just needed to find inexpensive shoes. That’s all I could afford. He was fine with that.
I’m actually fine with this framing. I don’t think a random 11 million American households could work together to build SpaceX. We’re getting a bargain.
Maybe you could focus on getting rid of the massive corruption that occurred under your watch instead of criticizing our greatest Americans?
Also, E is among the largest tax payers in the history of California and America (and will obviously be the largest going forward).