Markets


May

19

2017
Wall Street’s Greatest Magician

Wall Street’s Greatest Magician

“Every great magic trick consists of three parts or acts. The first part is called “The Pledge”. The magician shows you something ordinary: a deck of cards, a bird or a man. He shows you this object. Perhaps he asks...

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Mar

31

2017
Confidence Allocation

Confidence Allocation

* This is the 1st article in a series about the Confidence Allocation * “All you need in this life is ignorance and confidence, and success is sure.” -Twain Investing, like many things in life, can be confusing.  Even the best...

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Feb

24

2017
Buffett a Victim of His Own Success

Buffett a Victim of His Own Success

In 2007, Warren Buffett made his famous bet with the hedge fund Protege Partners.  He bet $1 million that Protege’s hedge fund investments would not be able to outperform an S&P 500 index fund over the next decade.  Nine years...

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Feb

17

2017
Risk and Uncertainty

Risk and Uncertainty

In our day to day lives, the terms risk and uncertainty are often used in the same breath.  There is a difference, though.  Risk and uncertainty are not one and the same.  In More Than You Know, Michael Mauboussin had...

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Jan

06

2017
revolution

When Average is Superior

Charley Ellis is the former chairperson of Yale’s investment committee and a well-known investment consultant. In 1975 he authored his now famous paper “The Loser’s Game.” He concluded his introduction with these humbling words: Psychologists advise us that the more...

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Dec

21

2016
2016 Favorites

2016 Favorites

We live in amazing times.  The amount of content available at our fingertips is seemingly limitless.  20 years ago, access to such wide-ranging, diverse ideas would have been nearly impossible.  Today, finding a new (or old) idea is always few...

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Oct

28

2016
The Thing About Being A Genius

The Thing About Being A Genius

I just finished reading When Genius Failed, the story about a huge hedge fund (Long-Term Capital Management) that blew up in the late 1990s after an incredibly profitable 4-year run.  Unsurprisingly, their methods were too good to be true and...

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Oct

21

2016
Spotting the Sucker

Spotting the Sucker

“Listen, here’s the thing. If you can’t spot the sucker in your first half-hour at the table, then you ARE the sucker.” -Mike McDermott I’ve heard some people say that investing in the stock market is no different than gambling....

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