Stocks are not pieces of art. They are not fiat money. Cults of personality do not last forever in the stock market. Narratives break. Eventually, everyone figured out that Galileo was right. Eventually, everyone will figure out that Cathie Wood isn’t. And it won’t take as long either.
Drew Dickson
Real financial planning is so much more than pontificating about the benefits of a low-cost, globally diversified portfolio. While this is very important, most people are not interested in the intricate details of each investment they own. What they really want to know is if they are going to be okay and, more importantly, if they have the means to enjoy their lives.
Tony Isola
Personal finance
The Ultimate Alternative Investment: Happiness
The Best Investment Strategy is Simple, But Hard to Do
Investing
Infinity Q: The Fund that Checked All the Wrong Boxes When investments come with warning signs.
Underperformance: Not a Bug, a Feature
Research
Do Any Economists Have Superior Forecasting Skills?
Brain stuff
Cooperators, Crusaders, and the Complicit: The Trinity of Religious Moral Character
Financial history
Curious Speculations: Collectibles & NFTs
Technology
The Fourth Law of the Internet
Dreams All the Way Up. Price/FAAMG and a defense of seemingly crazy high tech valuations
Starups
On $300B of Y Combinator Startup Success
Just 3 companies, Airbnb, DoorDash, & Stripe, represent more than half of YC’s top companies portfolio value, and the top 10 companies represent ~75% of it.
I hear people complain about polarization in the markets. The fact is, a small number of winners will always be responsible for the lion’s share of the returns, even in private markets apparently.
Startup Growth and Venture Returns: What We Found When We Analyzed Thousands of VC Deals
Simulations on 10-year investing windows for seed-stage deals suggest fewer than 10% of investors will beat the index, even if those investors have skill in picking deals. Like Vanguard has taught us in the public markets, individual investors could benefit from viewing the index as the default and then overlaying individual deals that they like.
Capitalism
This is the final resting place of your cast-off clothing
Department of future
Preparing for 2030. What do the next ten years hold?
Visual
