Why Missing Just a Few Days Can Wreck Your Returns
Introduction In a previous post, we explored what market timing is and why it’s so difficult to execute successfully. Today, we will dig deeper into one of the most striking findings from decades of academic research: the outsized impact of just a handful of trading...
Asset Classes: Stocks
Owning a Piece of the World’s Businesses: A Guide to Stocks If REITs let you own real estate without ever swinging a hammer, stocks let you do something even more remarkable: buy a piece of the world’s greatest businesses from multinational tech giants to a small...
How AI Could Change Retail Investing – But Not for Everyone
Introduction Artificial intelligence (AI) tools like ChatGPT are no longer just for tech enthusiasts - they are now accessible to anyone with an internet connection. In theory, this “democratization” of AI could level the playing field in financial markets by giving...
Would You Retire Today If You Could Afford It?
Introduction The allure of early retirement is powerful: freedom from the grind, autonomy over your time, and the chance to finally do everything your job never let you. But what really happens when you leave the rat race far earlier than most? Is early retirement the...
Book Review: Mastering the Market Cycle by Howard Marks
Introduction First published in 2018, Mastering the Market Cycle: Getting the Odds on Your Side is Howard Marks’s meditation on why financial markets ebb and flow. Marks, the co‑founder of Oaktree Capital Management and a respected investment memo writer, argues that...
Asset Classes: Real Estate Investment Trusts (REITs)
Investing in Real Estate Without Buying a House: A Guide to REITs Real estate is one of the oldest and most familiar asset classes but for most retail investors, buying physical property is out of reach. It requires large capital outlays, ongoing maintenance, and...
Order Types Explained: A Practical Guide for Everyday Investors
Introduction If you’re new to investing, placing an order might seem simple. Just click “buy” and you're done. But once you peek under the hood of a brokerage platform like Interactive Brokers, you’ll discover a different reality: dozens and dozens of order types,...
How Exchange Traded Funds Work: The Mechanics
Introduction If you are like many beginner investors, you may already own or be thinking about buying an Exchange Traded Fund (ETF) like the Vanguard Total Stock Market ETF (symbol: VTI) or the SPDR S&P 500 ETF (symbol: SPY) instead of buying individual stocks,...
My First Risk Premia Portfolio: A Beginner’s Guide
Introduction Last week, I explored risk premia and how they can help you build long-term wealth. If you have made it through that post, well done! Now, let’s make it practical. How do you actually get started? In this post I will explain the steps to take to actually...
Risk Premia Harvesting: Earning Rewards for Taking Market Risks
Risk Premia and Risk Premia Harvesting Previously, I published a first post on Risk Premia Harvesting. In this post we will delve deeper into this topic and further explore Risk Premia and Risk Premia Harvesting. Fair warning though: this is a very long and wordy...
Book Review: Thinking, Fast and Slow by Daniel Kahneman
Introduction Few books have had as profound an impact on the way we understand human behaviour, especially in the context of decision-making, as Thinking, Fast and Slow by Daniel Kahneman. Published in 2011 and based on decades of psychological research (including his...
Diversification vs. Concentration: Why You Shouldn’t Copy Buffett
Introduction “Diversification is protection against ignorance.” Warren Buffett At the 2024 Berkshire Hathaway annual meeting, Warren Buffett officially announced he would step down as CEO, passing the torch to Vice-Chairman Greg Abel. After nearly 60 years of...
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