KIA, Oaktree Capital on The Global Investor Outlook

https://www.youtube.com/watch?v=GHu4p0-WnT8

Lots of true wisdom worth listening to more than once. 

A few takeaways:

The last 15 years were easy money, rosy times. The future: risk consciousness. Be aware of the noise vs signals, Look at hard data, not soft data.

The US has been the best place for the rest of the world to invest. The question is, is it still as best as it was?

他們都提到被動投資 （Passive）與主動（ACTIVE） 投資的趨勢改變。認為active investing在重啟的路上了 

By KIA: 

As a long-time investor, the biggest risk is mismanaging risk, as you can’t afford to be lucky. Avoid noise.

To successfully identify the right opportunities, you need 4 Key things:

1. You need to have a long-term, forward-thinking strategy.
2. You need a process (patience) around it.
3. You need to surround yourself with talent to pick that opportunity.
4. You need to have the guts to make bold decisions when opportunity arises.

 

From the end back to the beginning (以終為始), reverse engineering. Investing will always have risk, always keep it in every step is the key.

 

Investing is rational; investors are not.

 

 

 

Complacency: We knew about a known unknown, but we decided to do nothing about it.

 

KIA: “The best way to invest/exposure to AI is to invest in AI enablers that help AI grow: data center, power, connectivity, etc. “

 

( Epic KIA answer @ 11:34:  "If you have a long-term, forward-thinking strategy, and a process around it, then you don’t need to be reactionary. If you are already there, you don’t need to be joining".)

 

 

by Howard: 

There are two kinds of forecasts, the ones that don't know, and the ones who don’t know they don’t know.

 

“Risk means more things can happen, and will happen. “

 

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