Year: 2022

Nixon Capital Q2 2022 Letter

Most drivers have likely experienced the strange, but all-too-common phenomenon of a “phantom traffic jam.”  After traveling down the road at a normal pace, suddenly traffic comes to a screeching halt without any apparent explanation (a wreck, a broken-down vehicle, etc.) for why the standstill occurred.  Phantom traffic jams are caused when a driver unexpectedly brakes during a time of high traffic density, bringing everyone behind to an abrupt stop. 

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