Nice essay! One quibble on Rentech is that for a long time they've not been accepting money into the fund, because that'd possibly destroy the alpha, which means the returns aren't technically 19k% because they can't be compounded at the same rate. None of which takes away at all from their extraordinary outperformance, which I mostly attribute to them secretly making a deal with Beelzebub.
Packy. Another great note. We don't support The Current Financial Thing. We believe the S&P500, the Nasdaq, and the Dow, will all make new all time highs within 12-18 months. And more than that, we think the best growth stocks - those with the best fundamentals, your DataDogs, Cloudflares and so forth - are also set to make new ATHs in the same timeframe. Send brickbats in 2024 if this ages badly. Till then? We're bullish. (Disclosure, long all the above).
Yes, but, even Renaissance Technologies can't duplicate the success of their internal fund that you mention here; their three public funds got crushed in 2020.
Nice essay! One quibble on Rentech is that for a long time they've not been accepting money into the fund, because that'd possibly destroy the alpha, which means the returns aren't technically 19k% because they can't be compounded at the same rate. None of which takes away at all from their extraordinary outperformance, which I mostly attribute to them secretly making a deal with Beelzebub.
Great piece!
The tide comes in
the tide goes out
and nobody knows
what they’re talking about.
Packy. Another great note. We don't support The Current Financial Thing. We believe the S&P500, the Nasdaq, and the Dow, will all make new all time highs within 12-18 months. And more than that, we think the best growth stocks - those with the best fundamentals, your DataDogs, Cloudflares and so forth - are also set to make new ATHs in the same timeframe. Send brickbats in 2024 if this ages badly. Till then? We're bullish. (Disclosure, long all the above).
Great point!
Excellent essay.
Yes, but, even Renaissance Technologies can't duplicate the success of their internal fund that you mention here; their three public funds got crushed in 2020.