Tag Archives: Investing

Baseball and Stocks: Games of Failure

Posted on January 28, 2019 by

Remember that the best hitter in baseball this year will fail 65 percent of the time. — George Will Mookie Betts hit .346 in 2018, failing 65.4% of the time.  Mr. Betts reached base more often than his batting average … Continue reading →

Posted in Equities, Investing | Tagged , , | 9 Comments

Markets Fluctuate

Posted on October 18, 2018 by

“Markets fluctuate.” That was the entire comment by Ace Greenberg, the CEO of Bear Stearns, in a special issue of Institutional Investor magazine dedicated to opinions from the great and the good regarding the causes and consequences of October 1987’s … Continue reading →

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Incentives Matter

Posted on August 8, 2018 by

We’ve had a Toyota RAV4 for over eight years now. It’s been great because it’s reliable and can hold a ton of stuff with the seats down. However, every once in a while we receive a recall notice from Toyota, … Continue reading →

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Home Is For Your Heart, Not Your Portfolio

Posted on August 2, 2018 by

A number of years ago I took over a portfolio that held corporate bonds from both developed and emerging markets. As I looked through the holdings a name popped out at me, Ipiranga. I turned to my credit analyst and … Continue reading →

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Is This Time Different?

Posted on March 30, 2016 by

I’m a cyclist.  Typically, I ride the tarmac, but in the cold my friends and I will get out our mountain or cyclocross bikes and hit the dirt roads. Those roads are sheltered, offer stunning scenery and have enough steep pitches to ensure a … Continue reading →

Posted in Cycling, Investing, Market Cycles, Trade | Tagged , , | 3 Comments

Strategy and Structure

Posted on December 16, 2015 by

Strategy and Structure is a classic management book.  It is about the evolution of structures suitable for managing large complex organizations.  The book gets across the idea that form should fit function in organizational design.  In asset management, it is the vehicle … Continue reading →

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