$40k invested in AAPL in 1990 would be worth about $40m today. $40k is about what $100k is today. So what stock would you invest $100k in today, that in 35 years would give you a similar return?

Keep in mind that AAPL came pretty close to becoming absolutely worthless around the mid 1990s before Steve Jobs rode to the rescue. Which is to say, you would really need a crystal ball to make such predictions. I could definitely see an "alternate universe" where Apple fared a bit worse and Commodore didn't mismanage the Amiga as much, then Commodore could be in the place where Apple is now...

I know I'm ngmi with this attitude, but I just find it hard to believe there even could be such a thing. All the numbers point towards us hitting up against planetary limits, at some point something's got to give.

Positive news about e.g. solar PV shrinks away to some miniscule number when compared against the big picture, do nothing to address the myriad other things such as species loss or peak-phosphorus and the gains are eaten up by Jevon's paradox (or LLM datacenter buildout) anyway.

Even the past performance of AAPL feels like it's more to do with central bank funny money than the real economy. Numbers keep going up but in the rral world everything gets increasingly enshittified.

Change My Mind.

Happy Holidays!

S&P 500