Philippe Maupas

Learner, consultant, educator, blogger, runner, gardener | @AlphaBetaBlogFR in 🇫🇷 | CFA, CAIA, CIPM | #financiallitteracy #literature #history

[Philippe Maupas @philmop]

Ben Carlson:

❝ People have been trying to predict a new bubble every year since the Great Financial Crisis. A lot of people are sure this is finally it. Some humility is warranted in times like these. ❞ https://t.co/DLSl3BCZBo

[Philippe Maupas @philmop]

Of course Jamie Dimon will tout the SpaceX IPO to wealthy clients. https://t.co/nJtBrD2SvB

[Philippe Maupas @philmop]

Is passive the new active? https://t.co/T53IEoDIBc

[Philippe Maupas @philmop]

Edward Chancellor:

❝ As passive funds take an ​ever-increasing share of investment assets, Goodhart’s Law is at work again: the index no longer simply reflects the market but shapes it. ❞ https://t.co/4h8UUBS6n6

[Philippe Maupas @philmop]

Owen Lamont:

❝ History suggests that high predicted earnings growth is actually a red flag. ❞ https://t.co/rLEubDO6Ph

[Philippe Maupas @philmop]

Barry Ritholtz:

❝ Am I happy about the excesses surrounding the SpaceX IPO? Absolutely not. The index gaming from Nasdaq and S&P is deeply problematic and disappointing. But it does not read to me as a market killer. ❞ https://t.co/WIUmIW9IZn

[Philippe Maupas @philmop]

For Jeff Ptak, it’s not advisable to invest in a fund or ETF for the exposure it affords to a particular security, even one as highly sought-after as SpaceX. https://t.co/PocWnxqXTc

[Philippe Maupas @philmop]

John Authers on VOO's exceeding $1tn in AUM:

❝ Magellan was named after a navigator whose ship circumnavigated the globe, but he didn’t survive to see out the journey. VOO’s voyage could be similarly exciting. ❞ https://t.co/M0BU2fqEOR

[Philippe Maupas @philmop]

FT Alphaville's Toby Nangle vs Apollo's Marc Rowan

❝ At Alphaville we pride ourselves on sitting at the intersection of financial nerdery and imagination. ❞ https://t.co/J6wi1pBCZJ

[Philippe Maupas @philmop]

Of the active activists, there’s Elliott Investment Management, and then there’s everyone else. https://t.co/CWPc19f4JM

[Philippe Maupas @philmop]

Investment banks typically charge 4% to 7% on IPOs, which raise less than $1 billion on average. SpaceX is negotiating to pay less than 0.75% for the $75 billion it aims to drum up in an initial public offering. https://t.co/4k3lAxFkgA

[Philippe Maupas @philmop]

In alternative-heavy portfolios, exposures are not allocations. https://t.co/YFEgUhcU0c

[Philippe Maupas @philmop]

Could boring soon be beautiful again? https://t.co/XD1BaAouaF

[Philippe Maupas @philmop]

Matt Levine:

❝ After years in which the cutting edge of the economy was nearly zero-marginal-cost software, now the cutting edge of the economy is extremely capital-intensive, uh, software. ❞ https://t.co/5zBAqf46Jg

[Philippe Maupas @philmop]

In Luxembourg, the regulator recently allowed UCITS funds to allocate up to 10% of assets indirectly to crypto via financial securities that do not embed derivatives. https://t.co/mVjGhZt0PK

[Philippe Maupas @philmop]

Nir Kaissar on SpaceX, Anthropic and OpenAI's IPOs:

❝ There are plenty of reasons to pass on what will certainly be the US’s three most hyped IPOs ever. ❞ https://t.co/cpQAdJBBCo

[Philippe Maupas @philmop]

What? Morningstar analysts think SpaceX has been significantly overvalued? Send 'em to Mars, or nuke 'em.

Joke aside, good to read an honest, non conflicted assessment. https://t.co/UQxOtJySdW

[Philippe Maupas @philmop]

Joe Wiggins:

❝ The endemic performance chasing in the active fund industry is driven by two powerful behaviours: outcome bias and extrapolation. ❞ https://t.co/qAZlqSM702

[Philippe Maupas @philmop]

Robin Wigglesworth on IPOs in the US.

SpaceX and OpenAI will raise more money than all the dotcom listings put together. https://t.co/19e3N3lqEV

[Philippe Maupas @philmop]

Why are millions of Europeans locked out some ETFs?

Via @bankersonwheels https://t.co/vgzIg5BDOu