This podcast episode discusses the importance of considering future opportunities when investing. The author argues that investors should not limit their investment opportunity set to only the one immediately at hand as this can lead to missed opportunities. Instead, investors should consider the wide range of possibilities of what might happen in the future and position their portfolios accordingly. The author provides examples of events that have a high probability of occurring in the future, such as the movement to reduce carbon emissions and the outperformance of US small-cap value stocks. The author also emphasizes the importance of price and the need to be patient when investing.
