In my view, these were my best posts written between February 2015 and April 2015:
Most of this boils down to chasing past performance, neglecting fundamentals, and neglecting basic risk control.
In this series, I disclose my WORST investing mistakes ever. Personal errors: cellular auctions, mistiming small cap value, and small deal arbitrage. Professional error: Manufactured Housing Asset Backed Securities — Mezzanine and Subordinated Certificates.
Smell the burning money!
You can’t imitate what they do, because you would have to tear up everything you are doing now.
Reserving is weakening, new places to find float are few, and if policy on asbsetos settlements changed, BRK could be in a world of hurt.
How a stream of excess income during working years becomes a stream of income in retirement years. It’s harder to do than you might expect. Includes a list of strategies and pitfalls.
Even today, the NASDAQ Composite still hasn’t hit an inflation adjusted high.
I feel stronger about this than when I originally wrote this. Bitcoin and the other cryptocurrencies are just a speculative crapshoot, and the attempt to have a currency without the legal structure of a government will fail, unless it is a commodity like gold. Also, the blockchain is an overrated resource hog that lacks the flexibility possessed by life insurance company policy management systems.
Explains why they exist, and what dangers could come from them.
Financial complexity should usually be avoided, particularly with financial guaranty schemes.
Like the prior article, there are people with too much time on their hands thinking up nutty and useless ideas. There is enough risk in the world already; we don’t have to add to it.
Sometimes we forget that the collective lending and borrowing decisions of the US bond market are more powerful than the Fed.
I think active managers have to grow up and accept that passive investing isn’t evil; it just cuts against the economic interests of active managers like me, at least for now. When it gets really big, the paradigm will shift…
Very few people want to panic, and fewer want to sell at the bottom — but many do just that. How can you avoid it?
How investing differs for investors that have different types of long-duration liabilities to fund.
A short and lonely post where I told you in advance that crude oil would hang around $50/barrel “for a few years.” And, my reasoning was on target as well.
Do you have basic concepts that you want to have explained? Shoot me an email, and if I think enough people would be interested, I will do it.