Keeping an Eye on the (Long-Term) Prize

As the Stokes Brothers prepare for Mardi Gras in New Orleans, they reluctantly continue their ongoing conversation about the Fed and inflation. They’ll also look at rolling 30-year returns and delve into the legacy of Charlie Munger and the uneasy future of crypto.

Key Takeaways

[00:35] - The calm before the New Orleans Mardi Gras storm [03:16] - An update on inflation [09:06] - Shelter and the annualized rate of inflation [13:08] - The worst 30-year return over the past 100 years was a total gain of 850% [17:10] - Our thoughts on Charlie Munger [21:46] - Is the technology behind Bitcoin ripe for disaster?

Quotes

[06:14] - “I think what's happened is the market, on the whole, was surprised, positively, about the strength of the American consumer and the economy in spite of the fact that the Fed raised rates on the most rapid pace in history from basically nothing to where we're at right now. And the economy on the whole really hadn't slowed down.” - Greg Stokes

[13:08] - “Discussion on markets is an exercise in futility and keeping people invested and towards an objective of long-term planning and discipline is really what this all this is all about.” - Doug Stokes

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