Religions are a bubble that will prove to be “worthless” John Paulson Religions are a fraud Paul Singer Would you believe the above quotes were real if the person said his judgement is based only on intrinsic value? What about this: As I dug into the actual underpinnings, it just Read more
Recently I read this article by Larry Swedroe on how after 2008 became really hard to invest in an hedge fund that will provide a meaningful overperformance (if any at all). HF were providing real alpha before that date and there is plenty of research (and movies and books…) to Read more
My wife fell pregnant while working as a maternity cover. It was a small ooops for her employer and a big one for us, because it meant she would only receive the Statutory Maternity Pay. In short, for one year we lived with a +1 in family members and a Read more
At the end of this year the GBP LIBOR will cease to exist and I spent few months ‘fixing this issue’, i.e. renegotiating trades, at the office. I am mentioning this because the legal story that brought us here, and in particular who got punished and who did not, is Read more
“now you know what’s possible, let me tell you what’s required” In a parallel universe, I would like to think this would be the intro to RetireInProgress monthly update instead of Russillo Life Advice. If you do not know what I am talking about, check out this clip from the Read more
It’s amazing, for me, that after 25 years looking at this stuff I still manage to get surprised when I should not. I read about people that spend millions to buy a jpeg of a rock (and thousands to buy the meme of that rock) and others that will not Read more
Do you like my click-bait attempt? You will hate me even more when you realise this post is basically relevant only to people living in the UK (ok…not exactly…every country in the world incentivise saving and investing via tax reductions in a way or another, there might be some food Read more
There are two categories of people in the world: the ones that love Packy McCormick and the ones that do not know Packy. Howard Marks (I think) said that good stock traders are optimist while good bond traders are pessimist. I happened to to be a bond trader as part Read more
(especially if you do not live in the US) Last week the biggest US tech names reported their Q2/21 results: Tesla, and to a lesser extent Netflix, starting point was low enough that an almost triple-digit growth is still in the realm of possibility but the other names on the Read more
The early days My relationship with the start-up world had some highs and lows. Ten years ago I was dating this girl that had some friends involved in Rocket Internet: in her eyes, it was the chance to join the Silicon Valley in Europe…for me, it was a bunch of Read more