Saving is passive, prioritizing is active.
The process for producing legal filings runs like an assembly line for making widgets.
Everyone has an itch
We would wager that few other arguments have the power to turn off the critical thinking elements of our brain like valuation.
Career risk is by far one of the largest inefficiencies in the markets people rarely talk about.
A rapid ascent followed by a quick reversal is all too common in alternatives land.
I work in an industry that has mastered the art of selling useless bullshit.
The whole reason markets work are because these gaps in opinion exist.
A net worth of $3,582 would put you in the wealthiest half of world citizens in 2017.
All of the gains with none of the losses is a fairy tale that fund managers and financial intermediaries have been promising investors since the beginning of time
Almost every epic investment blunder in history was the direct result of overconfidence.
If there were no costs involved, their average returns of index funds and active funds would be very similar.
So you were trading 3X leveraged ETFs for the love of the game?
A risk with turning an investment product into a metaphor is that the metaphor may bare no resemblance to the investment product.
There’s 25 guys who are the ten best players in the league.
The breeze of opportunity.
The owner of the good business wants the business to reinvest and grow because that growth is profitable. The owner of the bad business wants all the earnings paid out because the growth destroys value.
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