MARK BARNES: Rethinking the sources of capital and revenue
Clients, users and suppliers are the primary sources of capital
Conventional wisdom should never be allowed to rest on its laurels. While we’re not watching, (incrementally but certainly) technology, new knowledge and attitudes eventually change the composition of conventional wisdom.
The standard never-change-’em rules of investment (and valuation in particular) are cast in concrete and we mess with them at our peril. Equities, as measured in the listed space indices over time, outperform any lower risk asset classes — bearing out the axiomatic risk-return equation the more risk you take, the more return you get. So, let’s just play by the old measures and do more of the same? ..
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