WM 28 August 2022
Quotes Lessons & thoughts Julian Robertson Information Power and energy Energy is the ability to cause change; power is the rate energy is moved, or used.In physics, energy is defined as the amount of work that can be performed by force, whereas power is defined as the rate at which work is performed. If not now, when? How to sell a product Everything is relative Technicals Time in the market > market timing The price of time Finance is all about the transfer of transactions and spending/purchasing power across time What is an interest rate?A discount rate (the price of money). A hurdle rate (the cost of capital). A risk factor (price of anxiety). Cost of borrowing / price of leverage. Price of use of money over a period of time. Good deflation = productivity / bad deflation = collapse of prices due to end of speculative bubbles.Finance is all about transactions across time. Transfer our spending across time. Perhaps not time but energy? As time is an illusion Accordi...