If he's going to throw away his value-obsessed discipline and buy at 70X, he'd might as well go with the most sizzling momentum assets around, right?
The optimal time to book the various different elements of your trip happen at different times. Flights fill up early. Hotels get desperate.
Negative-yielding debt -- bonds worth less, not more, if held to maturity -- is spreading to more corners of the bond universe, destroying returns.