What the hell is ESG?

The best way through bullshit was to wade in, hold your nose with one hand and a grenade in the other, and cut straight to it.Alexandra Bracken In the past couple of decades, there have been several megatrends in asset management like the rise of index funds, target-date funds, thematic funds, smart-beta funds 🤮, ETFs,…… Continue reading What the hell is ESG?

Enough with the Robinhood traders nonsense

We human beings are suckers for good stories. This how we make sense of the world. We are hardwired to seek patterns where none might exist. Stories are also how we sell things that otherwise people wouldn’t touch with a 10-foot pole, toxic insurance polices being a prime example. It’s absolutely brilliant how we neatly…… Continue reading Enough with the Robinhood traders nonsense

Will the real advisors please stand up?

Gentlewomen and men, I’ve been around here for a long time and I’ve been around the block a few times. I was there when the first barter trade took place, a porcupine was exchanged for two goats and 1.2 meters of satin loincloth. https://twitter.com/passivefool/status/1248796986775498754 When people were freaking about this Corona crash, I was laughing…… Continue reading Will the real advisors please stand up?

Franklin Templeton’s lucky streak continues

When it rains, it really does pour. Ever since Franklin Templeton’s fateful decision to shut down those six debt fund schemes, things have gone from worse to woreset for the fund house. First, they couldn’t handle the surging redemptions, so they decided to shut down the schemes. Then Jennifer Johnson, Franklin’s global head, decided to blame…… Continue reading Franklin Templeton’s lucky streak continues

A gaggle of links: matters of debate

Anish Does Covid-19 Prove the Stock Market is Inefficient – Ben Carlson/AWOCS Is (Systematic) Value Investing Dead? – Cliff Asness/AQR Is Market-Cap Weighting a Momentum Strategy in Disguise – Ben Johnson/Morningstar Quantitative Easing, MMT, and Inflation/Deflation: A Primer – Lyn Alden Mr. Boiling Frog The Agony Of Being A Franklin Templeton FoF Investor – MF…… Continue reading A gaggle of links: matters of debate

What the hell is going on with debt mutual funds?

I wrote this post with my thoughts on the whole Franklin India debt schemes fiasco. But since then, there’s been more action in debt funds. I still can’t get over the fact that these damn things are supposed to be boring. Debt is supposed to the thing that allows you to sleep at night peacefully,…… Continue reading What the hell is going on with debt mutual funds?

Never a dull moment

Another day and another fiasco in debt funds. Ever since the IL&FS crisis, debt mutual funds have been going through an intense trial by fire. The number of defaults, downgrades and bust-ups have been astounding. Remember, debt is supposed to be an asset class that’s supposed to provide safety and stability in your portfolio. But…… Continue reading Never a dull moment

A gaggle of links

Anish Pandemics vs. Post-War Recoveries – Ben Carlson/A Wealth of Common Sense The 10-Month Moving Average Strategy – JC Parets/All Star Charts Current market volatility and staying the course – Steve/The Trend Follower Why a SIP in Small Cap Mutual Funds is a waste of money and time – Pattabiraman/Freefincal Do Indian Batsmen Still Slow…… Continue reading A gaggle of links