A few days ago a reader suggested I check Testfol.io and…I am so glad he did! (another guy on Twitter later told me that their database is not always correct, so ¯\_(ツ)_/¯). When it works, Testfolio is the best of Read more…
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 to what I think Read more…
[yes, I copied this post title from a famous newsletter, what can I say…] Last week Lorenzo Biagi (author, financial advisor and…finfluencer? ;)) posted the following picture, unfortunately without the source links: These two graphs offered him the opportunity to Read more…
“The world’s most sophisticated institutions invest using asset/liability matching strategies to help them properly navigate their liquidity needs over time. Banks, pensions and other large institutions don’t rely on vague “risk profiling” processes or Modern Portfolio Theory and instead use Read more…
“Managed futures is among the most time-tested of alternative investing styles. Despite origins in commodities futures trading, a heritage made evident by the commodity trading advisor (CTA) moniker that remains in vogue today, the contemporary multi-asset approach to managed futures Read more…
Universa Investments LP published a paper to challenge the rationale behind the effectiveness of a leveraged diversified portfolio, in particular the infamous 60/40. Universa Investments has always stressed the importance of mitigating the largest drawdownsas the most effective way to Read more…
A couple of weeks ago, Adam Butler from ReSolve published a white paper called “Managed Futures Carry: A Practitioner’s Guide”. ReSolve AM is Corey Hoffstein’s partner in crime behind the Return Stack concept; they floated on Twitter the idea of Read more…
Being the one that “works in finance”, and more and more because of this blog, I have been asked for advice*. For this reason, and considering the dumbfounding difference between the state of the financial advisory industry in the US Read more…
“you do not eat risk-adjusted returns” How many times I have heard it. Well, not literally like this because, if you are able to frame it this way, you know it is not 100% true. Usually, it comes in the Read more…
Warning: this might be a self-serving post. A juice of pure confirmation bias. The comfy blanket I look for when I am scared. You probably know my model portfolio (and if do not, click on the link ;)). 66% of Read more…