It’s the Monday following the second leg of the Triple Crown and a whole bunch of people lost money betting on the Preakness. Like the stock market, the allure of [ … ]
Category: Most Popular Posts
The Appropriate Portfolio vs the Optimal Portfolio
Should we pursue appropriate portfolios or optimal portfolios?
How to Avoid the Problem of Short-Termism
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 [ … ]
Understanding Modern Portfolio Construction
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 [ … ]
What Financial News Sources Should You Read?
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 [ … ]
What is Countercyclical Indexing?
We founded the concept of Countercyclical Indexing by answering some simple questions: Is a “balanced index” like a 60/40 stock/bond portfolio actually balanced? Does it make sense to rebalance back [ … ]
Understanding the Modern Monetary System – Newly Updated Version
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. [ … ]
Where Does Money Come From?
“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 [ … ]