Why spreading your bets might be quietly destroying the metric it was meant to improve Somewhere along the way, diversification stopped being a strategy and became a religion. The faithful recite the creed without question. Spread your bets. Own a bit of everything. Sleep well at night. It sounds wise. It sounds responsible. And for […]
Why Diversification is Failing Your Sharpe Ratio Read More »
In biology, there is a concept called apoptosis. It is the programmed death of a cell. The cell receives a signal, and it quietly dismantles itself from within. No drama. No inflammation. Just an orderly exit so the organism can keep functioning. It is one of the most elegant processes in nature, and it happens
From Cannibals to Zombies: Shorting Companies That Shouldn’t Exist Read More »
There’s a particular breed of investor who checks their brokerage account the way some people check their pulse. They want to see that dividend hit. They want confirmation that their money is working, that capital deployed is capital rewarded. And nowhere is this impulse stronger than among those who invest in business development companies. BDCs
Is Your Dividend a Return of Capital or a Return on Capital? Read More »
Everyone knows the secret to investment success. Buy low, sell high. It’s so simple that a child could understand it. Yet somehow, this basic principle has bankrupted more investors than any complex financial instrument ever could. The irony is almost perfect. The one thing everyone agrees on is the one thing almost nobody can do.
The Cult of the “Dip”: Why Buying Low is Psychologically Impossible for Most Read More »
There’s something almost rebellious about the 130/30 strategy. While the rest of the investment world spends centuries perfecting the art of picking winners, someone decided the real edge might come from simultaneously betting against losers. It’s a bit like a restaurant critic who doesn’t just recommend great restaurants but actively warns you away from bad
130/30 vs. Traditional Long-Only: Which Wins in a Bear Market? Read More »
The interesting thing about buying Bitcoin every single day is not what happens to your money. It’s what happens to you. Most articles about dollar cost averaging treat it like a math problem. They show you charts with lines going up. They calculate returns. They compare strategies. But somewhere between the spreadsheet and the real
What Happens When You Start Dollar Cost Averaging $10 of Bitcoin Every Day for 5 Years? Read More »
Most people think investing is binary. You either park your money in an index fund and accept mediocrity, or you become a stock picker and pretend you’re Warren Buffett at a cocktail party. The first option feels like defeat. The second feels like delusion. But there’s a third way that lets you have your cake
How to Own the S&P 500 and Still Feel Like a Hedge Fund Manager (Core-Satellite) Read More »