The old adage that "past performance is not an indicator of future returns" is possibly more relevant in today's market than it's ever been.
When the market is driven by momentum, as it has been through the past decade, piling onto winners has paid off. And why wouldn't it? Earnings have been easy to fuel when debt costs next to nothing, in a market where the shareholders reward the pursuit of market share - no matter how it's achieved.
In today’s episode of The Rules of Investing, David Thornton sits down with Mark Landau – Co-Founder and Chief Investment Officer at L1 Capital.
Mark started L1 in 2007, alongside Raphael Lamm. Their flagship long-short strategy has returned a whopping 18.7% per annum since inception, and was ranked in an HSBC survey as the ‘Best Performing Hedge Fund Globally’ in 2015 and ‘Top 20 Hedge Fund Globally’ in 2016, 2017 and 2021.
The episode covers an enormous amount of ground. We discuss everything from the uniqueness of today's market, where L1 is deploying capital, what makes earnings sustainable, the importance of balance sheets. Mark also tells us why the investing playbook of the last decade should be put back on the shelf.
TimestampsChristopher Joye: the RBA got it wrong, now it will crush housing, growth and the consumer
Why this ex-central banker fears a second (and even bigger) mistake
Lazard’s Philipp Hofflin reveals how the stock market really works
Trailer: Lazard’s Philipp Hofflin reveals how the stock market really works
Steve Johnson’s hunt for tomorrow’s market movers
Trailer: Steve Johnson’s hunt for tomorrow’s market movers
Success and More Interesting Stuff is back
This Hall of Famer has uncovered a stock worthy of Warren Buffett’s portfolio
Trailer: This Hall of Famer has uncovered a stock worthy of Warren Buffett’s portfolio
Move over Big Tech, these are the new flag bearers of growth investing
Trailer: Move over Big Tech; these are the new flag bearers of growth investing
Luke Smith: This commodity will grow 10x in 10 years
The commodity set to grow 10x in 10 years | Trailer
Bob Desmond: We’re finding value everywhere
Chris Watling’s portfolio preparation guide for a 2023 global recession
How this Hall of Fame bear is buying the dip
Why the stock market’s bubble hasn’t really burst yet
We’re in ’Tech Wreck 2.0”, and some big names won’t make it
A stealthy small cap quietly building a market monopoly
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast