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Michael Mauboussin offers insight on memes.
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Consider this excerpt from Michael Mauboussin:
Changes in our world are increasingly the result of cultural evolution, not genetic evolution. An understanding of the basic mechanism of memetic evolution provides an intelligent investor with a foundation to contemplate technological change and self-awareness of the (often hidden) assumptions that underlie their investment process.
We agree with Mauboussin on the importance of memes.
We don’t agree with Mauboussin’s use of the term stock picking, but that is a quibble of his overall work.
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