Trillion $ Mistake

We sent out the below to The Idea Farm list recently, and the chart was so good I had to share it here.  

John Del Vecchio is a rare forensic accountant that sees opportunities both long and short (he runs funds on both sides including the new forensic accounting ETF).  He did a short piece recently that isn’t publicly available,  but touches on one of the biggest mistakes in investing – ignoring valuations and going with market cap indexes.  We’ve done a lot of blog posts on the topic, including this one on Apple in 2011:  “Apple – Too Big To Succeed?”    

JDV includes this great chart that illustrates investing in the largest company in the US….good idea? 

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The Trillion Dollar Mistake

PS: In the month since The Idea Farm went private we’ve featured some great research:
  • 5 New Asset Classes with SocGen (upcoming)
  • Macro Updates with Cornerstone  (upcoming)
  • Inflation expectations and commodities with Guggenheim
  • Cantor on Kamikaze QE
  • McClellan on copper inventories
  • Fundamental improvements with Janiczek
  • and our GTAA paper update.
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