Research Roundup: Stock Crashes, Damodaran Interview, Financial Superpowers, Rising Rates, and Tariffs
Here are the best things I read this week, their main takeaways, and the most important chart from each piece:
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Small Portfolio Changes Don’t Matter
The investment product landscape is like the supplement industry. Supplement companies don’t make money if you sleep eight hours a night, only drink water, and avoid junk food. Fund providers don’t make money if you stick to low-cost index funds. We’re inundated with products promising an edge, either for our health or finances. In investing,…
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Book Summary of Superforecasting
Jazon Zweig said Superforecasting by Philip Tetlock and Dan Gardner is “the most important book on decision making since Kahneman’s Thinking, Fast and Slow”. Tetlock co-created The Good Judgement Project (GJP) which participated in a forecasting tournament held by IARPA, a U.S. government organization. IARPA supports research that has the potential to revolutionize intelligence analysis.…
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Research Roundup: Serial Bond Defaulters, Explaining the EM & USD Link, and Data on Tax Loss Harvesting Benefits
Here are the best things I read this week, their main takeaways, and the most important chart from each piece:
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The True Cost of Hedging S&P Downside
Hedging sounds like a smart thing to do. But has it actually worked? This post examines the historical costs and benefits of hedging stock exposure with SPY puts.
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