X @Anthony Pompliano 🌪

The reason value investors have struggled to keep up in recent years is because technology companies are more valuable than their analog predecessors.If you are anchored to old valuations, you can’t stomach buying assets at higher levels.But the best value investors in the world, including Julian Robertson and Bill Miller, realized early on that value is a relative.They bought technology companies and let compounding go to work for them.An entire generation of investors missed the memo and have suffered bec ...