Should we pursue appropriate portfolios or optimal portfolios?
If I had to pinpoint the biggest problem for most asset allocators I would probably say short-termism. Short-termism is the tendency to judge financial markets in periods that are so short [ … ]
My newest research paper, Understanding Modern Portfolio Construction, is available on SSRN. This paper is the culmination of years of work and I consider it to be the most important piece of research I’ve published.
The Wall Street Journal recently noted that they will be closing the backdoor search loophole to their content thereby forcing readers to subscribe. For those who aren’t aware of this [ … ]
I am totally convinced that low fee indexing is the best way to allocate one’s savings (in fact, my entire company is based around this view). But when it comes to [ … ]
About once every 18 months I try to update my paper ” Understanding the Modern Monetary System” to account for important new understandings and potential evolutions in the monetary system. [ … ]
“The process by which money is created is so simple the mind is repelled.” – JK Galbraith There’s a reason why myth # 1 in my “biggest myths in economics” is [ … ]
Just letting readers know that I’ve updated the “Understanding Money” section on the Orcam website. My goal is to make this a comprehensive section of the site helping people better [ … ]
The smartest investors know that they’re actually not that smart. That is, they recognize the fact that they’re going to be wrong a lot. But in realizing this they also [ … ]