When Moore Isn’t Enough: Part I
It seems like every day there’s a new story discussing the global shortage in semiconductors/chips, affecting everything from smartphones, to computers, to data centers and medical devices (examples here, here, here, and here). Perhaps no industry better serves as the...Stochastic Paths and Market Abnormalities: Rootlessness and the Contingencies of Cycles of Tragedies
In 1942, Quincy Wright published a two-volume work where, while drawing from distinct disciplines such as anthropology, history, psychology, and mathematics, he tried developing a precise formula that would enable policymakers to calculate the probability of war. It’s...Portfolio Construction in an Era of Transformation: When Tragedians & Mozart Met the Inescapable Smash of Ineluctable Forces, Part II
In our commentary two weeks ago, we described how the confidence and sectoral momenta interact and create the four quadrants of market expectations. In that same commentary we also presented eight forces (consumer confidence, monetary conditions, fiscal conditions,...It’s the Capital Allocation, Stupid
A student asked me for investing book recommendations a couple of weeks ago. There were several that I mentioned but the one I heavily emphasized is a book called The Outsiders by William Thorndike. It’s by no means a hidden gem (Buffett listed it as his #1 book in...Portfolio Construction in an Era of Transformation: When Sophocles Met the Inescapable Smash of Ineluctable Forces, Part I
Whether we look north or south, east or west, we discover powerful forces that crown this era of metamorphosis and change. With this and the forthcoming commentary on Feb. 9, we would like to share with you our views of the most important forces which, in our opinion,...Sign Up for Our Publications
