Great article, and I’m glad to see you’ve returned to Less(er)wrong.
One veryvery small question: speaking as one of the hedge fund guys you mention who happened to be long MSFT into a very successful quater on friday, why did your Microsoft example use a share price of $37.70? We’re at $83.81 now!
Great article, and I’m glad to see you’ve returned to Less(er)wrong.
One very very small question: speaking as one of the hedge fund guys you mention who happened to be long MSFT into a very successful quater on friday, why did your Microsoft example use a share price of $37.70? We’re at $83.81 now!
I believe the first draft of this book was written in 2015.
(Though that wouldn’t quite explain it—looks like MSFT was >40 all that year—so maybe it was 2014?)
The last day it was $37.70 was 2014-03-14
Yup, just logged back in to make that guess. Would also explain the Japan commentary.