Not the Cool Kids

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As we start the year 2023, we are reminded of the profound poetry from the band, Echosmith, in the song, “Cool Kids.” It can teach us about what it takes to succeed in long-duration common stock investing currently.

She sees them walking in a straight line
That's not really her style
And they all got the same heartbeat
But hers is falling behind
Nothing in this world could ever bring them down
Yeah, they're invincible

Go back one year. Common stock investors were marching “in a straight line” on the FAANG stocks and a wide variety of technology stocks. They all had the same heartbeat and their prior decade’s prosperity forced even value managers to conform or get tossed out of investor portfolios.

I wish that I could be like the cool kids
'Cause all the cool kids, they seem to fit in
I wish that I could be like the cool kids
Like the cool kids

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