Anecdotes are nice and interesting to examine, but what about the average firm?
How is it possible that on average the strategy is a winner if each and every path is expected to decay over time?
Selling is as unnatural to me as writing with my less dominant hand.
The quest for “slow and steady” is largely misguided
If you can tell a good enough story, you can raise someone’s expectations
Consider your portfolio. Do you have a Teddy Bridgewater, or a David Wright in there?
When things are calm people believe what they tell themselves. When things are crazy they believe what other people tell them.
Asset managers know you want to get rich.
You don’t have to be dramatic in some of the bets you take to win.
TV has replaced novels.
You can trade Russian small caps at ten in the morning.
Only 2% of advisors are fee only
Are investors confused? Well of course they are!
After 300 likes you could be known by an outsider better than your own spouse.
On Tuesday, November 19, 1963, Richard Helms carried a Belgian sub-machine gun concealed in an airline travel bag into the White House.