December 2018

The Dead Don't Get No Respect

Da Vinci painted his brilliant fresco, The Last Supper, and how did they respond? They nagged at him for taking too long. Then, after he finished, they cut a giant hole in the bottom for a door.  That’s just what we do to genius. We disrespect it. We manipulate it. We mistreat it. And that’s the preferential treatment that genius gets.

How did 2017 Winners and Losers do in 2018?

The top 10 2017 winners from the S&P500 were up at least 80%. In 2018, thru 11/1/2018, the same group is only up 1.1%.

The worst 10 S&P500 stocks from last year, down an average of 40% in 2017, are up a combined 14.7% in 2018 YTD.

Active vs. Passive. The Illusory Debate

Every time I read about the “active vs. passive debate” I can feel my blood pressure go up.

There is no “debate”.  The only people perpetuating this myth are those who make a living touting active management and those who don’t know the facts.

Simple 60-40 Portfolio Beats All Ivy League Endowments over 10 years

A new report shows that the complex and expensive endowment model hasn’t proved its worth since the financial crisis.

The Amazing Aggregation of Marginal Gains

This Coach Improved Every Tiny Thing by 1 Percent and Here’s What Happen

The fate of British Cycling changed one day in 2003.