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OPPORTUNITY
This chart became dated faster than we would’ve liked in the days leading up to this edition of Insights. It highlights the fact that, even factoring in an impending recession, valuations are quite compelling in certain corners of the market. In fact, despite the general pessimism, we would argue that in small cap securities, REITs, and a few other pockets, we’ve almost hit a generational buying opportunity.
Our advice for the coming weeks? Avoid the CNBC headlines and focus on the long term. Being able to thoughtfully act when others are fearful is one of the biggest drivers of wealth creation.
Despite the Hype, Private Markets Aren’t the ‘Cure-All’ Investors Are Seeking
There are portions of the private markets which, just like public markets, can present incredible opportunities to compound capital (without worrying about daily volatility!).
That said, it seems that in recent years people are painting all privates with the same high-return brush. Given the flood of capital and changing market dynamics in a high-rate environment, we wouldn’t be surprised in the slightest to see a reduction in private market outperformance through the next cycle.
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The Robots Are Here. And They Are Making You Fries
The pandemic accelerated a lot of trends. One development we might not have expected is driven by the post-pandemic hangover in labour markets. Restaurants simply can’t hire enough people.
It remains to be seen whether a softening labour market will take the emphasis away from automation, but for now we should all get used to seeing more robots in unfamiliar places.
According to the National Restaurant Association, 65 percent of restaurant owners still say finding enough workers is a central problem.
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The Problem with Fighting Fires
A one minute read – click this link.
You will always be too busy, and that will never change.
As Andy Grove once noted: "A manager's work is never done. There is always more to be done, more that should be done, always more than can be done.”
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Andrew Wilkinson: Building an Empire
An excellent story of a Canadian entrepreneur that is probably unfamiliar to most people. Lots of great takeaways here.
Whatever the people you surround yourself with want, you end up wanting as well…but most people don’t intrinsically want those things.
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