Advice from the young C.S. Lewis: "Keep clear of introspection, of brooding, of spiritualism, of everything eccentric. Keep to work and sanity and open air – to the cheerful & the matter of fact side of things. We hold our mental health by a thread: & nothing is worth risking for it. Above all beware of excessive day dreaming, of seeing yourself in the centre of a drama, of self pity, and, as far as possible, of fears.”
The Canada Pension Plan (CPP) has over 2,000 employees.
Top 5 managers, make more than $5 million per year.
They have never beaten the market.
Nevada has 1 guy. Who invests in ETFs.
Does nothing. All day.
And he outperforms the CPP.
Consistently.
For further context, if CPP invested in QQQ, for the last 10 years, instead of $800 billion in assets, we would have $2.4 Trillion.
VOO would put it at $1.6 trillion.
Lesson: The government will never outperform the market.
So don’t think the Sovereign Debt Fund will be any different.
How can mainstream critical development studies produce research on how climate policy will make it super hard for Somalia to compete but say nothing about the the permanent degrowth and deindustrialization planned for you and me
@John_Cyrano@Timcast Hilarious that the same people who give no weight to the body of evidence from a prior sample somehow trust their life to garbage social sciences studies and other awful academia