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Meditations on Investing
11 minutes | Mar 31, 2020
Restaurants are being destroyed. Money managers should be scared.
In this time of the coronavirus, beware of the parallels between smaller managers and independently owned asset managers.
22 minutes | Dec 18, 2019
The Hedge Fund That Wasn’t
Bruce Shi of Thrones Capital claims in Forbes to be one of the most successful managers in the w. An investigation by Angelo Calvello suggests he’s something else.
15 minutes | Dec 1, 2019
The overplayed, turbohyped, and underwhelming world of artificial intelligence in investing.
Every manager claims they’re “doing” AI, but here’s what investors can ask to find the truth.
16 minutes | Aug 6, 2019
Capitalism: A Rejoinder
In late May 2019, my fellow columnist and friend, Christopher Schelling, penned an essay on free-market failures — namely, that America has too little capitalism. This is my response.
12 minutes | Jun 27, 2019
The insane story of how an early quant investor went rogue.
Intentional HIV infection. Acid attacks. Attempted murder. Nothing was apparently beyond the pale for one of the fathers of computer-based investing.
8 minutes | May 20, 2019
Embrace the Black Box
It’s a universal truth that investment processes should be understandable. However, artificial intelligence managers can provide no authentic explanation of their investment process. How can an investor pick an asset manager when no one knows what it does?
8 minutes | Apr 8, 2019
The closest thing to white supremacy I’ll ever get to write about
It’s not Charlottesville, but the hypocrisy of TPG’s William McGlashan — the prominent impact investor caught up in the college acceptance cheating scheme — is as awful as I’ve ever seen.
9 minutes | Mar 28, 2019
Death in the Time of Bitcoin
A crypto currency exchange founder dies, leaving 115,000 customers without access to their digital coins. But is their bad luck someone else’s fortune?
7 minutes | Mar 13, 2019
BlackRock crosses the AI Rubicon
With BlackRock's artificial intelligence pivot, there is no turning back
7 minutes | Feb 25, 2019
Does alpha exist?
Examining the investment debate of luck versus skill within a theological framework.
8 minutes | Feb 7, 2019
This Essay Is Meant To Make You Uncomfortable
Thoughts on the specter of sexual harassment in the asset management business
5 minutes | Jan 18, 2019
Why Socialism Could Be Good for Institutional Investors
The first hedge fund was created by a socialist. So why can’t modern-day socialism help modern-day institutional investors and asset managers?
3 minutes | Jan 5, 2019
Postscript to “The Diversity Fraud”
A modest remedy to fix the perennial and persistent problem of the lack of demographic diversity in the investment industry.
14 minutes | Dec 30, 2018
The Diversity Fraud
Workplace, board, and manager diversity has proven to be an enduring industry chimera. What is to blame?
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