Credit Bubble Stocks

Scott Alexander (blogger of "Slate Star Codex" and now "Astral Codex" ) recently wrote a post titled "What Intellec...

As we start the new year, I really enjoyed reading this post and especially the thought below: It took about a year of struggling with th...

From Horizon Kinetics' June research piece [pdf] "The central tenet of modern diversification is to eliminate the unsystematic ri...

From Whitebox , I really like these principles : The source of investment return is the efficient reduction of risk. Know the drivers of ...

A correspondent wrote in, To all those perma-bulls and asset gathering fund managers who feel they must be fully invested at all times I o...

Very good : "even when I have an opinion on a company's value versus its market price, I try to consider how fragile that opinion...

Excellent new post by Young Money: "[T]he market environment is the main determinant of which investors achieve outsized returns. Fo...

I just realized I've never written about the Kelly Criterion , the formula developed by J.L. Kelly that can be used to determine the opt...

"[T]ake a weekly holiday from your devices. Take a break from distraction. I’ve started it. From sunup Sunday to when I put the kids to...

"[A]rticles in physics journals are also incomprehensible to the uninitiated. But physicists are forced to use a technical language, th...

"If two men who were friends in their youth meet again when they are old, after being separated for a life-time, the chief feeling they...

Borges's narrator describes how his universe consists of an enormous expanse of interlocking hexagonal rooms, each of which contains the...

"[B]eing very successful at business or politics in no way implies they can explain that success. [...] I don't presume that having...

I've noticed that the criticisms of natural gas E&Ps generally, and Chesapeake specifically, have started to include more arguments ...

"The foreign policy of ants can be summed up as follows: restless aggression, territorial conquest, and genocidal annihilation of neigh...

From the latest Wired , "[C]auses are a strange kind of knowledge. This was first pointed out by David Hume, the 18th-century Scottish...

Nassim Taleb 's recent The Bed of Procrustes: Philosophical and Practical Aphorisms was basically a mandatory purchase for me because h...