The danger of such a signal was that we had discovered it by accident
One component of return swamped all others in predicting returns: whether the total supply of shares was contracting or expanding.
Paying too much attention costs more than just your time
If you don’t know what you are, how can you possibly know how you ought to conduct yourself in the markets?
It seduces you with the idea of something more, but, ultimately, provides nothing of substance.
Everybody is looking at you the way you’re looking at them
Once you get meaning aligned, the numbers work themselves out
There’s a big difference between what people should do and what they can do
Do we deserve to use your attention
Fifty-seven wine experts couldn’t even tell they were drinking the same wine