The Idea Farm

There are 5 companies in the top 10 today that were in the top 10 in 2015, 3 that were in the top 10 in 2010 and just 1 that featured in the top 10 in 2005. Of the current top 50 companies in the US, only half were in the top 50 a decade ago, and many did not even exist before…

“Chasing alpha? You might be better off working overtime.” @MebFaber on valuing your time — and the real tradeoffs behind the alpha quest. #Investing #FinancePodcast #OpportunityCost #WealthBuilding

"Corporate buybacks have outpaced new equity issuance by a remarkable 4-to-1 ratio over recent years, reducing share supply and significantly bolstering market stability." @RickRieder

Seth Klarman on finding value and maintaining discipline - Talks at GS podcasts.apple.com/us/podcast/set…

Bank of America highlighting the relationship between technology developments over time and population.

"Since the lows that followed “liberation day,” it is no longer just gold that is doing very well among metals. Suddenly, silver is making new all-time highs, while copper, platinum, palladium and nickel are all outperforming gold." @gave_vincent

Today, over 20% of weight in the MSCI World has an EV/sales ratio greater than 10! @ManGroup man.com/insights/views…

Global stock market valuations.... Cheap countries are on a face ripper this year. via @TheIdeaFarm

Pre-order @morganhousel's book releasing in October. A+ amzn.to/44ZdGBO

“Home ownership isn’t just about what you sell for — it’s the rent you’re not paying.” Brian Jacobs explains the hidden income of owning a home.

Real rates in emerging markets are are 20-year highs. @FT

I've been thinking a lot about dollar cycles. Since 1970, there have been three full upcycles and three downcycles. Each has lasted c. 18 years—far longer than business, credit or equity cycles. Why is that? And are we nearing a turning point again? Suspect we're close. 🧵

“The CAPE ratio uses today’s prices… but 10-year-old earnings. NVIDIA’s current weight vs. its tiny earnings from 2014? That skews things. Unless tech earnings revert to the past, CAPE is overstating valuations.” -- Brian Jacobs of @DrawdownPatrol

Buybacks have increased approximately 25% from 2023 via @KKR_Co

Brian Jacobs of @DrawdownPatrol: → “Don’t buy a home unless you’ll be there 7+ years.” → “I just sold the last of my farmland — real estate is a nightmare.” → “Airbnbs? That’s my version of hell.”

.@ManGroup on recent cat bond issuance

A few bangers in the Top 50 Facts from 1H 2025 "Y Combinator CEO Garry Tan said that for about a quarter of the April 2025 YC startups, 95% of the code was written by AI." - @garrytan "Palantir "stock-based compensation registered at $282 million over the final three months of…

"Our ‘Glass Still Half Full’ thinking is that attractive financial conditions, a global easing cycle, ongoing productivity gains, and lack of net issuance—coupled with some incredibly powerful investment themes—will continue to drive this cycle both further and longer than many…