Sublime
An inspiration engine for ideas
The MARTIN ZWEIGS and CHARLIE D are classics
Book recommendation/educational primers are linked below 🤝🏻 https://t.co/BozoTVzMjg
BLOOMBERG ARTICLE ON SYSTEMIC RISK FROM PODS
Some interesting points in this Bloomberg article on multi-manager funds.
A couple points stood out to me, and there were a couple points I would add. What stood out:
1) PODS ARE BIG. 30% of HF GMV per GS report (does... See more
Since that is the case, any sovereign borrowing strategy that does not implicitly assume a fairly neutral position about the direction of credit spreads can involve a significant increase in volatility—and hence in the probability of distress.
Michael Pettis • The Volatility Machine
Watch out for assertive “fast talkers.”
Ray Dalio • Principles: Life and Work
The Kelly-Thorp method requires no joint distribution or utility function. In practice, one needs the ratio of expected profit to worst-case return—dynamically adjusted (that is, one gamble at a time) to avoid ruin. That’s all.
Edward O. Thorp • A Man for All Markets
Nassim Taleb frames it as the Theory of Antifragility - investing in one high-risk software company is fragile, investing in ten high-risk software companies is robust.
DTSACMO: Robbie Brammall
Make sure those who are given radical transparency recognize their responsibilities to handle it well and to weigh things intelligently.