The Rational Reminder recently released another episode on leveraged ETFs. I didn’t want to listen (and do not care to link it :)). They had done one not long ago, and I was fairly sure I wouldn’t care for the angle they would take. It’s almost 2027. It shouldn’t be Read more
The idea (and the quiz) is stolen from Chris Kennedy at Bridge Alternatives. I kept it in the closet for almost a year now because I wanted to use it for a live episode of our podcast. I came to the realisation it will never happen. Let’s play a game. Read more
A reader suggested a clever way to build synthetic EUR-hedged ETFs inside Testfol.io. Now that the platform supports UCITS ETFs, the methodology can finally be tested. The settings are below: Here the settings: The one thing to remember is to set the base currency to EUR. The synthetic volatility is Read more
I finally got around to the latest Odds on Open podcast, and I’m still not sure what I expected. The premise, as I understood it, was a retail trader and a professional trader comparing the pros and cons of their roles. Fine. Great idea, actually. Then I read the bios. Read more
A few days ago I read a post from a fellow Swiss about financial independence, and I recognized myself in a lot of it. More importantly, it made me realise the FIRE movement has a branding problem. FIRE — Financial Independence, Retire Early — is one of the more successful Read more
Everything below started with one image: Portfolio Charts posted this global allocation and it stopped me in my tracks. The allocation is just a thing of beauty. That one graphic is the reason this post exists, but it’s really an excuse to talk about something bigger: Portfolio Charts just launched Read more
Most people who reach out to me have read my stuff. In our calls, we usually end up clarifying a concept, or talking about how some idea applies to their specific situation. Normal, healthy conversations. Then there’s the other, smaller group. They found me maybe through the podcast, skipped the Read more
A lot of you probably know Benn Eifert. I’ve linked his stuff here before, I’ve referenced his work, some of you have been following him for years. And for those who haven’t…no worries, I’ll catch you up. Benn was running a relatively small, volatility-focused, hedge fund. And recently the firm Read more
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 days thinking about global macroeconomics in ways that would make Read more
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 to talk about his new venture, Forecast Trader, IBKR’s dedicated Read more