I've been into investing for my entire adult life, and base my strategy mostly on John Neff's work on total return.
I have missed out on a lot of investments in the QE period, because many of them seem like "if this mid-level company becomes the biggest company in the world, you'll make a reasonable return," which has always seemed insane to me, but we've seen it happen again and again. I realize that we are probably in a place where insider trading is much more prevalent that we expect, and that the point of an IPO has been turned on it's head, but these type of potential blowups of high PE stocks is something I've never really come to terms with.
I have missed out on a lot of investments in the QE period, because many of them seem like "if this mid-level company becomes the biggest company in the world, you'll make a reasonable return," which has always seemed insane to me, but we've seen it happen again and again. I realize that we are probably in a place where insider trading is much more prevalent that we expect, and that the point of an IPO has been turned on it's head, but these type of potential blowups of high PE stocks is something I've never really come to terms with.