If you keep written journals, there is simply no way to let hindsight bias take over, for there, in your own hand, is what you thought about something at the time, with revisions through selective memory impossible.
The ingredients are the signals that are used to select investments. The recipe is the set of rules used to transform those signals into portfolio allocations.
His investment arm, the Durant Company, claims early-stage investments from $250,000 to $1 million in roughly 30 companies through a network of venture capitalists
Since small stocks typically have larger market betas than large stocks, part of the size premium may simply be the equity market risk premium in disguise.
Michael Batnick is a managing partner at Ritholtz Wealth Management. He is the co-host of Animal Spirits, What Are Your Thoughts, and The Compound and Friends. For disclosure information please see here.
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