metacognition_capital

Exploring Latticework of Asset Allocation | 'Take a simple idea & take it seriously' ~ Charlie Munger | Tweets = Notes to Self

[metacognition_capital @meta_cognitive]

Prof Robert Shiller on AI doom narratives. The narratives, on its own, have potential to cause recession.

https://t.co/FyK0oExu75

[Justin Skycak @justinskycak]

A natural edge you do not cash in eventually expires.

[Gappy (Giuseppe Paleologo) @__paleologo]

Kent Daniel (https://t.co/iDQL9rDRWa) and I are teaching Quantitative Investments at Columbia this fall. It's a graduate course. If you're a student, enrollment is open. I think the course is 2x oversubscribed, despite the entrance exam (which was hard-ish). But I am sure there will be no-shows. I will share here what I can (that is compatible with the uni's policies).

And yes, it's really cool and surreal to teach a course with the coauthor of the "momentum crashes" and the "characteristics vs covariances" papers.

[metacognition_capital @meta_cognitive]

@egr_investor @benjaminfelix @JonLuskin Interesting discussion indeed! One aspect that was under-discussed is the role of higher expected returns of value factor-tilted portfolio helping to stay-the-course despite significant tracking error, the divergence in expected returns often exceed all-in costs of factor tilts.

[BuccoCapital Bloke @buccocapital]

Levie’s Law of AI Psychosis:

The farther away you are from the actual work the more confident you are that humans are no longer needed

I like it

[metacognition_capital @meta_cognitive]

Interesting new NBER paper on AI boom & implied growth expectations

https://t.co/SOqhLoDb3H

[Erik Brynjolfsson @erikbryn]

Today, the Stanford @DigEconLab launches the AI Economic Indicators, a new platform for tracking how AI is reshaping work, productivity, adoption, and the economy.

1/6

[Justin Skycak @justinskycak]

Spaced repetition is like weight training for memory. You might even call it wait training.

[metacognition_capital @meta_cognitive]

@farnamjake1 All the best!! Looking forward to it :-)

[metacognition_capital @meta_cognitive]

Interpreting expansion/contraction of Roman empire through the lens of customer acquisition economics & mapping to lifecycle phases of companies (rise & decline) is absolutely brilliant.

@farnamjake1 plz consider publishing a sub-stack blog or a book on these veggies.

[Tobias Carlisle @Greenbackd]

Christian Heck and Julien Albertini, Global Value Portfolio Managers at First Eagle join @farnamjake1 and me on Value: After Hours LIVE TODAY at 1.30pm E / 10.30am P / 5.30pm UTC / 4.30am AEDT
Watch it on the Acquirers Podcast channel: https://t.co/FFTnQqRxww………
Subscribe to be sent a reminder: https://t.co/BcE3DiwRvN

[metacognition_capital @meta_cognitive]

Great explanation of index inclusion:
1) "Think equilibrium, watch the money all the way to its final resting place, and remember money is a veil, all that matters is the final allocations."
2) "Don’t just think equilibrium, think about the forces supporting the equilibrium."

[John Cochrane @JohnHCochrane]

Tech stock singularity. Will Space X IPO and Index funds send the price to Mars?
https://t.co/hCDHPx5D17

[Greg Ip @greg_ip]

This column counters doomers who say AI could raise unemployment broadly. First, rarely has any technology directly destroyed more jobs than it creates, and I don't see it now. This chart (H/T @JamesBessen) surprised me: software employment still rising /1 https://t.co/mMN9VaPDJP

[Anna Wong @AnnaEconomist]

From @UChi_Economics ‘s John List (Also Walmart chief economist) on AI

[Jesse Livermore @Jesse_Livermore]

"Health is not everything, but without health, everything is nothing."

--Arthur Schopenhauer

[metacognition_capital @meta_cognitive]

Wow, I didn't look at 3 months horizon, this maybe a historic 3-month lookback for small value outperformance against large growth.
The burst-like nature of HmL factor outperformance is difficult to see amidst day-to-day volatility.

[metacognition_capital @meta_cognitive]

6%+ spread between US large growth and US small value today.

[NBER @nberpubs]

The observed decline in labor’s share of corporate output, in conjunction with relatively weak corporate investment, generates a persistent rise in the ratio of corporate valuation relative to corporate earnings, from Andrew Atkeson, @Jonheathcote, and @fab_perri https://t.co/cNQee1CpqR

[metacognition_capital @meta_cognitive]

6%+ spread between US large growth and US small value today.

[Oaktree @Oaktree]

In his latest memo, @HowardMarksBook addresses the question, “Is there a bubble in AI?” He assesses the current landscape, drawing parallels to history and considering whether investors’ current enthusiasm is merited or irrational. #OaktreeInsights

Read: https://t.co/La3DJaMJWQ

[metacognition_capital @meta_cognitive]

"... brains hallucinate perceptions, AI models hallucinate language and markets hallucinate future cash flows, and all three hallucinate for same structural reasons: they are predictive engines operating under uncertainty..."

Thanks for finding these gems @farnamjake1

[Tobias Carlisle @Greenbackd]

Investor and author @ValueStockGeek joins @farnamjake1 and me on Value: After Hours LIVE TODAY at 1.30pm E / 10.30am P / 6.30pm UTC / 5.30am AEDT
Watch it on the Acquirers Podcast channel: https://t.co/FFTnQqRxww………
Subscribe to be sent a reminder: https://t.co/BcE3DiwRvN

[metacognition_capital @meta_cognitive]

So glad to find that @twiii_podcast is back! The quality of conversation is excellent as always. Even better, these conversation sometimes are a source book recommendations which are often a financial history gold mine.
https://t.co/e4e9PhUyIG