Lazy Portfolios
Permanent Portfolio 2.0
One year and half ago I wrote about the Permanent Portfolio 3.0. I just realised I never did one… on the Permanent Portoflio 2.0, so here we are. Not sure if this would qualify me for a career as a Read more
Portfolio construction
A trip to Monte Carlo
I’ve been messing around with the Testfol.io Monte Carlo Simulator. The free tier is pretty crippled — 500 simulations, 15-year cap — but Testfol.io is literally the only place where we have a decent Trend Following proxy that actually goes Read more
Personal Finance
Professional SAA for the Retail Investor
I came across an interview with Jordan Brooks, who runs macro strategies at AQR Capital Management, in the Journal of Portfolio Management. AQR manages somewhere around $100 billion. Brooks has a PhD, teaches at Yale and NYU, and spends his Read more
Personal Finance
The Market That Could Replace the Economist
Thomas Peterffy has a problem with prediction markets. Not with the concept, he loves the concept. His problem is with what they’ve become. And I agree with him. Peterffy, the founder of Interactive Brokers, recently joined the Odd Lots podcast Read more
Model Portfolio
Model Portfolio Quarterly Update
In April 2022, I introduced on this blog The Italian Leather Sofa Model Portfolio. As a reminder, here is the portfolio composition: The idea behind the portfolio is stolen from here. The link offers the best explanation of what I think Read more
Retirement
The Best Countries to Retire In: A Data-Driven Reality Check
Natixis puts out a Global Retirement Index every year (I found it, as usual, thanks to BankersOnWheels). It’s one of those research pieces that I wish had always existed, especially for someone like me who is keen to optimise and…calls Read more
Portfolio construction
No Diversification
On Wall Street, no one ever says “okay, enough is enough.” The mentality is always “if a little bit is good then a lot is better. And if a lot is better then way more is great!” Usually, people have Read more
Personal Finance
Own Goal
I listened to a podcast where a financial advisor walked through his Goal Based Investing philosophy with a real case. The details were refreshingly specific: a couple, 300k saved, one kid headed to university in 15 years, and a retirement Read more
Retirement
Inflation and SWR
Two weeks ago, I was orphaned by the weekend reading list from BankerOnWheels. But thankfully, Monevator’s list threw me a lifeline: two posts, both interesting, and together they fill in the blanks. Here’s why they hit differently: they almost complete Read more
Retirement
Annuity Hate
If you spend enough time watching the way people interact with their brokerage accounts, you eventually realize that they aren’t actually looking for “total return.” That’s a lie they tell themselves to feel smart at dinner parties. What the average Read more