Stocks and bonds both have positive expected returns, so what happens when you use some leverage?
February 2020
Animal Spirits: What makes people happier than money?
On today’s show we talk about:
-My appetite for bearish content
-Capacity constraints in private equity
-Wealth inequality
-What drives ETF prices, and much more
The Natural Progression of Life
It makes sense that we look back fondly to the days when our whole life was ahead of us.
A Random Watch Down Wall Street: Margin Call
On today’s show we talk about possibly the best movie ever made on the financial crisis.
These Are the Goods
Sequence risk, the cost of admission, and viral outbreaks.
When You Were Born > Everything Else
The single most important factor that determines an investor’s experience in the market is when they were born
How We Measure Performance
Nothing frames your view on an investment like the price you paid for it.
Animal Spirits: Everybody’s Trading
On today’s show we talk about:
-Young people are trading
-Refinancing activity heating up
-How we service interest payments if rates rise
-Instagram and YouTube
-How many people don’t tip, and much more
The Good the Bad and The Ugly of American Borrowers
The New York Fed just updated its quarterly report on household debt and credit and things are looking About 1.0% of current mortgage balances became 30 or more days delinquent in 2019 Q4, near the lowest level observed in the data history. Low interest rates are hurting savers, but they’re helping borrowers. Mortgage originations soared…
The Secret of Stock Picking
The secret of stock picking is that it’s not about stock picking.
