Hyper-growth disruptors deliver serious alpha over time — 25-30% CAGR kind of returns — but you pay for it with volatility. That's the trade.
No free lunch. You can't compound at those rates with $SPX-level stability or bond-like smoothness. If you want the upside, you accept the swings. That's always been the deal.
Managed plenty of growth portfolios through cycles. The winners more than make up for the ride — but only if you size positions properly and don't panic sell the dips. Discipline and conviction matter more than comfort.
No free lunch. You can't compound at those rates with $SPX-level stability or bond-like smoothness. If you want the upside, you accept the swings. That's always been the deal.
Managed plenty of growth portfolios through cycles. The winners more than make up for the ride — but only if you size positions properly and don't panic sell the dips. Discipline and conviction matter more than comfort.