Thus, it’s our goal to do as well as... - Deepstash

Thus, it’s our goal to do as well as the market when it does well and better than the market when it does poorly. At first blush that may sound like a modest goal, but it’s really quite ambitious.

In order to stay up with the market when it does well, a portfolio has to incorporate good mea sures of beta and correlation with the market. But if we’re aided by beta and correlation on the way up, shouldn’t they be  expected to hurt us on the way down?

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Here’s how I describe Oaktree’s per for mance aspirations:

In good years in the market, it’s good enough to be average. Everyone makes money in the good years, and I have yet to hear anyone explain convincingly why it’s important to beat the market when the market does well. No, in the good years average is good enough.

There is a time, however, wh...

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People with jobs are more likely to spend money, and it should follow that employment drives the economy. But when the economy goes sour, companies fire workers. It should follow that the economy drives employment. Both contradictory statements are true.

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Think of your career like your portfolio

Think of your career like your portfolio

  • Many of us assume job security, but any job someone gives you can be taken away. You may also wake up and decide the job you have isn’t what you wanted at all, which is another way things change.
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