December 2025 Random Ramblings

Описание: Host Andrew Walker delivers his monthly random ramblings for December 2025, reflecting on a decade of "professional public-market investing". Andrew shares a developing thesis on why markets are becoming increasingly strange, drawing parallels to evolution in sports, chess, and technology. He examines how efficiency, quant strategies, leverage, and speculative behavior have reshaped market dynamics. Andrew also walks through several investing beliefs he’s changed his mind on over the past ten years, including valuation metrics, buybacks, real estate, technical analysis, and holding periods. He closes by reflecting on lessons learned from podcast guests, risk-taking, arrogance, and the role of luck versus skill in generating outsized returns.
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[00:00:00] Episode introduction
[00:02:19] Monthly solo rambling format
[00:04:14] Ten-year investing reflection
[00:04:59] Markets growing increasingly strange
[00:05:20] Sports and strategy analogy
[00:06:45] Market efficiency reaching extremes
[00:07:34] Weird situations driving returns
[00:09:38] Changing minds over decade
[00:10:31] Pure valuation metrics questioned
[00:11:36] Buybacks losing importance
[00:13:39] Hidden real estate disappointments
[00:15:13] Technical analysis partial acceptance
[00:16:19] Rethinking long-term holding
[00:18:25] Three-year reevaluation rule
[00:19:31] Risk management maturation
[00:22:12] Podcast shaping investor thinking
[00:24:14] Luck versus skill debate
[00:26:31] Media deal commentary critique
[00:28:45] Looking ahead next decade
[00:29:38] Holiday wishes and closing


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Production and editing by The Podcast Consultant - https://thepodcastconsultant.com/