The disclosure statement below is currently doing the rounds and it is apparently from a long defunct fund called the IPS Millennium Fund. Apparently it is being lauded as being an honest example of what a disclosure statement should be instead of the usual corporate speak that these things are comprised of. However, the tone of…
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Below is the abstract from this paper – The Misguided Beliefs of Financial Advisors A common view of retail finance is that conflicts of interest contribute to the high cost of advice. Using detailed data on financial advisors and their clients, however, we show that most advisors invest their personal portfolios just like they advise…
DetailsI have been thinking about this table I put up the other day. It merely confirms my view that the mining industry is an historical economic distortion that is vastly overrated in its importance. Employing less that 2% of the Australian workforce (see below) and only contributing about 6% of GDP yet receiving about $10B…
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A comment appeared in relating to this piece I wrote the other day and it deserves a fuller explanation. I will state at the outside that it is my contention that if you listen to the financial media and the sell side of the finance industry you will never get anywhere. And as a first…
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Bloomberg recently breathlessly trumpeted the following regarding hedge fund behemoth Bridgewater – Ray Dalio Makes Clients $4.9 Billion in 2016 as Paulson, Soros Falter Their article was accompanied by the following table of returns – When you look at the table $4.9B is a lot of money in absolute terms and it is here that…
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Napoleon Hill is the most famous conman you’ve probably never heard of. Born into poverty in rural Virginia at the end of the 19th century, Hill went on to write one of the most successful self-help books of the 20th century: Think and Grow Rich. In fact, he helped invent the genre. But it’s the…
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Question – What is your spirit animal? Answer – A friggen Cone Snail…….
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The term “wellness” — which seems to encompass everything from yoga to detox teas to crystals — is very hot right now. Earlier this year, New York magazine dedicated an entire, incredulous month to figuring out what wellness was, producing such articles as “How Algae Went From Horse Food to Wellness Trend” and “The Real…
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