New research can help us with an age-old question: When constructing a portfolio, how much risk is too much? Especially today, with the market again near all-time highs, this is an important question. On the one hand, we could dismiss this concern by noting that all-time highs aren’t as uncommon as [...]
How to beat the market
Andrew Carnegie used to say that competitors were welcome to tour his factory, to see his production line up close. Why? Because of Carnegie Steel’s massive scale and complex operations, he was confident no one would ever be able to replicate what he’d built. Hedge fund manager Seth Klarman is a [...]
Seemingly easy
One of the market’s worst performing stocks over the past year was, not long ago, one of its best. Novo Nordisk is the Danish company that pioneered the hugely popular weight-loss drug Wegovy, also known as Ozempic. After it hit the market in 2021, the company’s stock rallied, tripling over the [...]
Stablecoins
Earlier this summer, Congress passed The Guiding and Establishing National Innovation for U.S. Stablecoins Act—GENIUS, for short. This sounds obscure, but it’s a story worth following. The GENIUS Act’s purpose is to promote the growth of—and also to regulate—a new type of financial instrument known [...]
In the picture
In the ancient world, before the invention of the printing press, the most common way for people to remember large amounts of information was to build what’s known as a memory palace. The idea was to link words to images, because images are easier to remember. I’ve found that this strategy works [...]
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