We are all suckers for good stories and narratives. As Noble Laureate Robert Shiller writes in his book, narratives shape our world. But narratives are more than mental shortcuts for the real world – they increasingly are the real world. One of the most common and dangerous narratives in the world of investing is that…… Continue reading What fund managers said and what they meant
Before you start reading the post, just a small background. Recently, several large stockbrokers in the United States such as Schwab, TD Ameritrade, and Fidelity went free. This was interesting for a whole lot of reasons I’ve outlined in the post. Thinking about what’s going on in the US and comparing it with India was…… Continue reading Everything is free or almost free. The great cost compression in financial services
We have a peculiar problem in the world right now. Ever since Daniel Kahneman, Amos Tversky, and Richard Thaler proved that we humans are flawed and full of biases, every other idiot has taken to pointing them out. Off late, I cannot go two scrolls on twitter without some fucking moron using terms like “recency…… Continue reading I’m full of biases and you’re full of shit
Bridgewater recently published some research on how geographical diversification can save our asses. The research is really detailed and has some amazing data points. 2008 was the biggest crash of our generation. But little did I know, that there were far bigger crashes that made 2008 look like a kiddie party. Geographic Diversification Can Be…… Continue reading So you want to invest for the long term?
Ok, here it goes. I’ve been meaning to write about this for a while now and this is a topic which is a bit near and dear to my heart. Let me set the context first, so bear with me, I know you have Netflix and Hotstar open. The internet and the duopoly of Google…… Continue reading Pay up!
I love fiction! After all, who doesn’t love a fantasy that’s never gonna come true? Research reports by brokerages are some of my favorite works of fiction. I mean, the plot, the twists – these reports have made bullshitting an art form. Free stock tips are like assholes, everybody has one. Anonymous 😛 Every day…… Continue reading Costly bullshit
Recently news broke that the investors ousted both the founders of FundsIndia. This came as quite a surprise to everyone, but a little bird had vaguely told me a couple of months ago of some of the bad tidings there. FundsIndia, if you aren’t aware, is one of the oldest mutual funds portal in India.…… Continue reading The FundsIndia saga is just a sign of things to come. Indian mutual fund platforms are in trouble!
The election results are set to be announced on May 23rd. And the markets are clearly spooked because they know something – Modi isn’t coming back to power, perhaps? This does make sense given that most informed experts are predicting that the BJP will find it hard to come back to power. And these are…… Continue reading Worried about election results? Here’s what you should do with your portfolio
Hedge Funds have this mystical aura around them. Reclusive, eccentric geniuses who can deliver insane returns. But facts are always stranger than fiction. Year to date, the S&P 500 has beaten the popular hedge fund indices. Bloomberg Opinion/Barry Ritholtz I’m not writing this post suggesting that hedge funds and endowments should invest in index funds.…… Continue reading Surprise, surprise: Hedge funds this year have underperformed the S&P500
I’ve always been a bit smitten by the markets. I remember carrying a copy of Economic Times to school. I also very vividly remember buying the very first edition of Livemint when it launched in Bengaluru. In those days, I understood very little, but I was still curious though. I remember asking my brother who…… Continue reading My journey from being fully active to almost fully passive