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Risking, Fast and Slow Slow risk doesn’t make headlines. Every time a hedge fund blows up you will probably hear about it. But you never hear about the person who sat in cash for 20 years because they were too afraid to get invested. Both are equally devastating, but one seems less spectacular than the other. (5min _ OfDollarsAndData) Insights from “The Matter with Things.” We are already living in a simulation. Our focus is… Weiterlesen »2021- 51 weekly bits and bites

Experts From A World That No Longer Exists The biggest risk to an evolving system is that you become bogged down by experts from a world that no longer exists. The more evolution you have, the more you should expect that expertise has a shelf life. (5min _ CollaborativeFund) This Will Not Last While we don’t know what the future holds, there are times when making small shifts to your investment strategy can make sense. Given… Weiterlesen »2021-47_50 weekly bits and bites

The Intrinsic Futility of ES(G) Investing I don’t know of a more useful rule of thumb in finance than this: The more investors are aware of a particular company or asset class, the more capital gets thrown at it, and so the lower the long-term returns will be. At a time when every fund salesman and their dog is hawking ESG, now is a great time to stay away. (5min _ Advisor Perspectives) How to… Weiterlesen »2021-46 weekly bits and bites

Fear and Loathing in Cryptoland If you still think their is no value here, you really need to reconsider. However, the opposite is also true. If you think that Cryptoland is going to overturn the traditional financial system and our way of life in general, you are equally misguided. (5min _ OfDollarsAndData) I Was the Only Female Partner at MyHedge Fund. Here’s What Needs to Change. In an excerpt from her book, former Canyon Partners portfolio manager… Weiterlesen »2021-45 weekly bits and bites

How Much Should You Worry About Inflation in Retirement? Calculating a customized inflation rate is better than using a blunt measure like CPI. You can get closer to a personal inflation rate by looking at your actual spending in each of the major categories and blending that with the inflation we’re seeing in those areas. On this spreadsheet, you can input your spending in each of the major categories, then calculate a personalized inflation rate that… Weiterlesen »2021-44 weekly bits and bites

Beyond Smart Why do so many smart people fail to discover anything new? Viewed from that direction, the question seems a rather depressing one. But there’s another way to look at it that’s not just more optimistic, but more interesting as well. Clearly intelligence is not the only ingredient in having new ideas. What are the other ingredients? Are they things we could cultivate? (12min _ Paul Graham) The World’s Biggest Real Estate Bubbles in… Weiterlesen »2021-43 weekly bits and bites

Never Go Full Weimar Michael Burry, of The Big Short fame, recently put out everyone’s favorite hyperinflation scenario — Weimar Germany in the 1920s — as a concern. This is everyone’s favorite hyperinflation proxy because it happened in a developed economy and people ended up pushing around wheel barrels full of worthless cash. The Fed is printing so much money it’s only a matter of time, right? Wrong. (6min _ Ben Carlson) Paul Tudor Jones says inflation could… Weiterlesen »2021-42 weekly bits and bites

A Tale of Two Sundays The outsized impact of experience Fast forward to the late 2000’s when Goldman Sachs, Bank of America, Cisco, Marriott, McKinsey, Citigroup, Johnson & Johnson, AIG, and countless “big box retailers” were the ones dialing back, while the likes of AirBnB, Square, 23andMe, Stripe, Shopify, Slack, NuBank, Zoom, Twilio, Moderna, WhatsApp, and Andreessen Horowitz emerged. All were founded after 2006, and most in 2008 or later. The bottom line is that recessions plant the… Weiterlesen »2021-41 weekly bits and bites