Emergencies May Cause Strange Market Behavior
2020 is certainly not shaping up to be the year I had hoped for. Like many, I was optimistic at the start. I underwent …
Read MoreCOVID-19 Catalyst For An Easy Game Against Passive Investing
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Passive investing has eaten active management’s lunch for decades. Its market share has grown steadily, capturing disproportionate amounts of inflows and allocation changes. Backed …
Read MoreCOVID-19 Is Not The Last War
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These are truly remarkable times in the investment markets. The speed, intensity, and ubiquity of this selloff brings just one word …
Read MoreCommoditizing My Framework For A New Paradigm
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When it comes to investing it’s never different this time; nor, however, is it ever the same. This difficult-to-navigate paradox creates a …
Read MoreThe Unsurprising Repo Surprise
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Have you heard? There’s trouble in the repo markets. Even casual investment market participants probably know that something’s amiss. While only a handful …
Read MoreWhy Are We So Scared
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I always find this time of year to be self-reflective. Year-end provides a natural point for critiquing past performance and fitting it into a …
Read MoreMotives Creating Negative Yields
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I previously postulated that negative interest rates are destructive (though profitable) and that they negate human life on a profoundly fundamental level. …
Read MoreNegative Rates Are Destructive But Profitable
“Remember that Time is Money.” Benjamin Franklin, Advice to a Young Tradesman
It’s unfortunate that such genius identifications as the above have long been forgotten by the economic community. First …
Read MoreSuperforecasting A Bear Market
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There’s an ongoing debate about whether or not the U.S. is approaching a recession. As an investor, this question is of utmost importance. It …
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Reading The Market’s Postmodern Mind
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No matter how you slice it, markets are human. This even applies to the “algos” as it’s we who write their mechanistic marching …
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