As one of my good friends keeps reminding me, the simplest and most profitable trade over the last decade would have been to avoid or go short on any company connected to the government in any form or fashion and go long quality stocks in the rest of the market. If one had had this simple insight a decade ago, one would have massively outperformed any benchmark.
No need for fancy stock-picking or deep fundamental analysis, just one macro insight and you could have built an impressive track record, reputation and following. The value migration has been so intense that it has overpowered ...
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