I credit Google for having the foresight to identify threats to its main business of selling advertising against search results. The potential loss of market share in the mobile space led them to the Android acquisition.
From Barry Ritholtz
Most of Google's home technologies have failed to catch on in a major way.
Google's founders have had a good eye for imagining what technologies will be significant in the near future. No one asked Google to develop self-driving cars, but it helped them with street views for Google Maps.
We love a tale of heroes and villains and conflicts requiring a neat resolution.
Salesmen always need something to sell.
Any investment bought via credit always runs the risk of margin calls and, eventually, liquidation.
When you buy anything with lots of leverage, it does not require a whole lot to go wrong to lose it all.
Much of the traditional thinking about cash is well intentioned but unrealistic. Should you have six months of living expenses in the bank for emergencies? Sure. Do you? Probably not.
A hedge fund manager whose clients demand monthly performance reports has different needs than any individual investors with a 20-year time horizon. The needs of that long-term investor differ markedly from someone who is retiring in three years.
When markets are rallying, cash in the portfolio is a drag on performance, returning about zero.
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