Great coverage, thank you! IMHO there is only one true AAA out there: SwitzerlAAAnd 😉
- Neutrality, no wars helped a lot generations after generations to accumulate & compound
- Trusted by rest of the world
- Direct democracy & federalism works given the decentralized driven efficiencies
- Balanced fiscal budget
- Conservatively managing C/A surplus
- Low debt + low rates of inflation
- SNB reserves: 100% forex reserves relative to GNP, big 'mutual fund' inside tracking MSCI USA index with a 80/20 allocation between bonds & stocks (algorithmically rebalanced)
- cash flow diversification + natural hedge for US investors
Agreed. It’s high time we all carefully and non-emotionally re-examine the old assumptions about what is truly risk free.
I would argue for retiring that term and replacing it with something more accurate.
Great coverage, thank you! IMHO there is only one true AAA out there: SwitzerlAAAnd 😉
- Neutrality, no wars helped a lot generations after generations to accumulate & compound
- Trusted by rest of the world
- Direct democracy & federalism works given the decentralized driven efficiencies
- Balanced fiscal budget
- Conservatively managing C/A surplus
- Low debt + low rates of inflation
- SNB reserves: 100% forex reserves relative to GNP, big 'mutual fund' inside tracking MSCI USA index with a 80/20 allocation between bonds & stocks (algorithmically rebalanced)
- cash flow diversification + natural hedge for US investors
- Low taxes with 🧀 ⛰️ 🍫 😉
Have a great day!
https://twitter.com/Maverick_Equity/status/1655592150568955906
Professor Damodaran: I am so glad you are on Substack. What do you think is the future of ESG? I used your famous ESG quote in this article: https://yuribezmenov.substack.com/p/how-to-raise-your-esg-score