It kind of shows me that humans
- Have gaps of memory losses.
- Perhaps are not always a student of history.
Most of all, have this idea that an index does well because of just one or two stocks, one or two sectors, one or two regions.
And totally missing the point on the critical elements that make a portfolio of diversified securities more sensible than investing in a concentrated number of individual stocks.
The more I see this behavior brewing beneath the Singapore small caps, the more I thought about this article from John Huber that I came across recently: Quiet Compounders and a Hidden Moat at an 18% FCF Yield.
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