No. of Recommendations: 1
“Having a multi-year horizon for your intentions might be good, but two year options aren't quite a match for those intentions.”
This reminded me of Robert Hagstrom comment. He said on a recent podcast that the higher returns of LBO outfits is often simply related to their leverage and if Main Street investors added an extra 50% margin to their index ownership, the 5 year returns would be very similar. He was Not recommending that people do this, but was making the point that higher returns was not related to particular brilliance from the LBO management, just leverage & if one holds the index position with margin for 5 years, it will appreciate the vast majority of the time.
