Max Kirouac, CFA

Investment Counsellor & Portfolio Manager at BMO Private Wealth | Finance, blockchain, and literary enthusiast |
Let's talk money.

[Barry Ritholtz @Ritholtz]

A handy list of core beliefs that color how I think about basic investing, philosophy, risk and behavior: My Investing Philosophy in a Nutshell

https://t.co/3v4qQNNVPT

[Charlie Bilello @charliebilello]

2 years ago, the 30-yr mortgage rate was 2.90% & the median existing home price in the US was $294k.

Today the 30-yr mortgage rate is 5.71% & the median existing home price is $416k.

With a 20% down payment, that's a 98% increase in the monthly payment (from $978 to $1,933).

[Max Kirouac, CFA @maxkirouac]

@EddyElfenbein Would’ve guessed 95%

[Max Kirouac, CFA @maxkirouac]

Beware those who can explain a dangerously stupid idea in a dangerously convincing manner.

#investing

[Max Kirouac, CFA @maxkirouac]

I bet anyone who did it before the 21st century didn’t have that fancy peanut pushing device on their face

[Sahil Bloom @SahilBloom]

The Stress-Reward Test

Too many people take on stress that has no upside.

If something is going to be stressful, consider whether the reward is sufficiently outsized to justify the stress.

If it isn't, don't take it on.

[Barry Ritholtz @Ritholtz]

Even Socialists Misunderstand Indexing https://t.co/nuSN0WTbX6

[Sahil Bloom @SahilBloom]

I can’t stop thinking about the BS Asymmetry Principle:

The energy required to refute bullshit is much larger than the energy required to produce it.

This is why BS spreads so easily—especially online.

It's also why we need to make a deliberate effort to fight back against it.

[Max Kirouac, CFA @maxkirouac]

“Treat every opportunity like a great opportunity, and you may find a few of them to be just that”

- James Clear

[Charlie Bilello @charliebilello]

US Federal Budget Deficit moves down to $1.05 trillion, its lowest level since 2019. The Deficit peaked at $4.1 trillion in March 2021.

Reducing the rate of borrowing/spending has been painful in the short run but is the only path to prosperity for a nation in the long run.

[Max Kirouac, CFA @maxkirouac]

@swagzad Clearly not a very good one

[Max Kirouac, CFA @maxkirouac]

It’s been awhile since a client asked me if they should buy Bitcoin.

Did I miss something?

#crypto

[Max Kirouac, CFA @maxkirouac]

https://t.co/IXMFgCkG0E

[Max Kirouac, CFA @maxkirouac]

Pessimists sound smart; optimists make money.

[Max Kirouac, CFA @maxkirouac]

“I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.”
- Charlie Munger

[Sahil Bloom @SahilBloom]

“Build identity capital. In your 20s do three fascinating things that job interviewers and dinner companions will want to ask you about for the rest of your life.”

[Max Kirouac, CFA @maxkirouac]

My market outlook at all times:

Short term - agnostic

Long term - bullish

[Dunkin’ DAOnuts (🍩,🍩) @DunkinDAOnuts]

Them: “Name a few use cases for web3”

Web3 bros:

[Max Kirouac, CFA @maxkirouac]

Pain plus reflection equals progress.
- Ray Dalio
#mindfulness

[Eric Balchunas @EricBalchunas]

“Volatility laundering” is such a good phrase to describe Private Equity. Love the bs getting exposed here, good read.