Traditional fixed in-come performs terribly in a rising rate…
Traditional fixed in-come performs terribly in a rising rate context. By contrast, our busi-ness has tailwinds. We have a growing private equity ecosystem. Rising rates result in higher profits (so long as we control credit losses). The banks are out of our market and not coming back. Scale is a major source of competitive advantage. There a lot of reasons for optimism.
— from Expanding Your Range (Growth/Change/Education/Learning/Habit) · Holy Grail of Investing: The World's Greatest Investors Reveal Their Ultimate Strategies f
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