Most investors follow the herd. We study both sides of it. Long/short equity. Macro. Systematic. London-based. Edge-focused. Follow for daily market truth.
A rising asset price is not evidence of value.
It is evidence of demand.
Sometimes these are the same thing.
Often, in the late stages of a cycle, they are not.
Most investors are short volatility without knowing it.
They own assets that look stable until they do not.
The crash feels like a surprise. It was never a surprise
Diversification is the most misunderstood concept in investing.
Owning twenty correlated assets is not diversification.
It is the illusion of safety sold to people who have not studied a correlation matrix.
The financial advice industry is not designed to make you wealthy.
It is designed to keep you invested in products that make them wealthy.
Understanding this is the beginning of real financial literacy.
Most investors lose money not because markets are unpredictable.
They lose because they are predictable.
Fear and greed on a schedule is not a strategy.
☕️ Starbucks is introducing a new rewards program to capitalize on the success of its Back to Starbucks transformation.
The program, designed to create more opportunities for hourly coffeehouse partners, introduces a new performance-based bonus structure for hourly partners.
In addition to existing base pay and benefits, baristas and shift supervisors can now earn up to $1,200 per year ($300 per quarter) when their coffeehouse meets and exceeds certain sales, operational, and customer service targets.
Starbucks plans to begin rolling out the incentive rewards program across US coffeehouses starting in July. https://t.co/FDiEkpfu4q
“The more you understand this world, the more you destroy yourself. That's why fools are happy, and intelligent people live in loneliness.”
- Fyodor Dostoevsky