Sat Feb 29 16:36:21 2020
<773ab1f1> Dude I had a convo with a 28 year old SMU grad finance bro at the bar last night.
<773ab1f1> I was like ‘so whats the deal dude, that market drop, the equity market lookin a bit frothy no?’
<773ab1f1> He was like ‘not at all, its goin back up.’ I was like dude, don’t realize this is the longest bull market of all time. How you feel about that repo rate as it relates to equities? he was like ‘trump won’t let it go down’
<773ab1f1> You know the first 45 minutes of ‘the big short’?
<773ab1f1> I felt like steve carroll
<773ab1f1> I started drilling down on him ‘… and you call yourself a capitalist…’
<773ab1f1> I tried to him the most dangerous phrase in investing is ‘Its different this time…’ I reminded him he wasn’t around in 2008.
<773ab1f1> Anyway the take away is, finance is full of super bros that basically don’t even entertain the idea that shit can go south.
<773ab1f1> If I am looking for market assessments, I want someone a bit longer in the tooth. I think anyone under 30 fundamentally lacks experience in todays market.