Circle of Competence Issue #121
QUOTE OF THE WEEK
"If the whole goal is to avoid negative impacts in the economy by virtue of monetary of stimulus, that creates zombie companies and doesn't allow resources to be reappropriated by value creating businesses over time." - Neil O'Donnell
FOOD FOR THOUGHT
Episode #09 - Neil O'Donnell - SPACs Galore and the Federal Reserve's response to Covid-19 (Link)
This week, I caught up with good friend Neil O'Donnell on all things SPACS and monetary stimulus. We discussed typical terms around SPACs for founders as well as investors, what is driving the recent explosion in SPAC popularity, our thoughts on two SPACs in particular, and the macro environment in general.
The Psychology of Money by Morgan Housel