The Religious Wars of Investing

During their recent episode, Taylor, Carlisle, and Buck discussed The Religious Wars of Investing, here’s an excerpt from the episode:

Jason: That’s obscene. Exactly. It comes around– I haven’t flushed this out, so give me some grace on this. Toby, like you’re saying, 200 years, maybe worse than 200 years, it’s like you have to hold the faith and hold the line. I was thinking like, I studied comparative religions in college and eastern philosophy. I was thinking about our portfolio being generally agnostic is I’m also agnostic to all of the faith-based investing protocols.

Whether you’re a growth investor, you’re a factor investor, you’re a value investor, you’re a trend follower, it always goes through any of those, go through a period of like 10 years of underperformance where they’re just toeing the line. But it’s a faith-based investing practice. I think that’s fascinating. It’s like, you guys congregate together, because in a huddle and a mass, [Tobias laughs] you can keep each other warm during those lean years and you keep each other involved and invested. But it really is a faith-based exercise.

Jake: Oh, and it’s religious wars too, between the– [crosstalk] [laughs]

Jason: That’s obscene. That’s why people, “Yeah, go head-to-head to hard,” because it’s like, “No, my God is better than your God.”

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