Articles
You should think of buying investments like you buy food–do it often. Make it a habit to invest your money like you make it a habit to pay your rent/mortgage.
A one percentage point increase in ETF ownership also experience a 14% reduction in the average magnitude of their future earnings response coefficients.
A belief isn’t wrong merely because a lot of people share it.
Most contrarianism is irrational cynicism.
Passive investing may be eating the world, but for now at least, active bond funds are still enjoying their leftovers.
Silence in the face of an unanswered falsehood, from people who should know better, is just never going to be how I roll.
Rules-based strategies are not guaranteed to work any better than faith-based strategies, but when they don’t do well, there is, at least, a ready explanation for why.
Big trends are not that hard to spot, but they can be strangely hard for large organizations to embrace.
Uber more than doubled gross bookings in 2016 to $20 billion.
A credit card, mystifyingly, had suddenly become cool.
Podcasts
If there were a Nobel prize for podcasts, Patrick would receive it.
This was a great conversation between Nir Kaissar and my colleague Ben Carlson
Veep nails the idiocy of the day-to-day decision making.
Books
The wisdom of crowds depends on the errors of individual investors cancelling each other out. But if we all exhibit certain behavioral patterns that are consistently irrational in the same way, sometimes the errors don’t cancel out.
The Economic Policy Institute, a progressive think tank, estimated that the hedge fund loophole cost $6 billion a year- the cost of providing health care to three million children.
I’ll be in Chicago April 26-28 with Josh Brown, our CEO, and Kris Venne, our director of financial planning. We’ll be meeting with clients and potential clients as well as attending the Morningstar conference. It’ll be my first time visiting, so I’m looking forward it!
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