Blog

Story Of You

Jun 30th, 2020|Categories: Noise|0 Comments

Fund managers appropriately pay attention to many stories on a variety of subjects: the valuation story for a stock, the [...]

Performance Stories

Jun 16th, 2020|Categories: Noise|0 Comments

Each month’s performance number gives rise to a series of stories. These performance stories are the meaning that you and [...]

Intuition

Jun 2nd, 2020|Categories: Noise|0 Comments

There is a pervasive myth in the investment-management industry that there is a select group of highly successful fund managers [...]

Investment Debate

May 19th, 2020|Categories: Mode, Noise|0 Comments

All investment teams debate ideas, but few teams do it really well. Naturally, poor quality debate leads to poor quality [...]

Competing Commitments

May 5th, 2020|Categories: Noise|0 Comments

One of the things that unites disparate groups of people in the investment industry is their ambition. Every active fund [...]

Screen Watching

Apr 23rd, 2020|Categories: Noise|0 Comments

Changes in the prices of securities can take various forms: choppy volatility, extended trends, sudden reversals, melt-ups or crashes. And [...]

Weakest Link

Apr 7th, 2020|Categories: Noise|0 Comments

Sudden big price moves can trigger in you a neurobiological and psychological chain reaction that results in errors of judgement [...]

Dangerous Opinions

Mar 31st, 2020|Categories: Noise|0 Comments

Market commentators do not care one jot whether their opinion helps you to capture alpha.  Their primary objective is to [...]