Philippe Maupas

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

[Philippe Maupas @philmop]

Thus, to invest in AI based on expectations about the future – and I think that’s all we have – we must consider both what we think the future may hold and the chance we can get it right. ❞ https://t.co/ZOfYfYIoZi

[Philippe Maupas @philmop]

Howard Marks:

❝ Investing consists of just one thing: positioning capital to benefit from future events, and most investors cope by relying on forecasts. But not everything is equally predictable, and not all forecasters are equally skilled. ⤵️

[Philippe Maupas @philmop]

MSCI will remove Strategy from its equity benchmarks at the close of trading on 30 November following a review of companies whose balance sheets are dominated by non-operating assets. https://t.co/qZWNcw6wFR

[Philippe Maupas @philmop]

❝ Sometimes, all an Alphaville post needs is a chart. ❞ https://t.co/z2z6pyip1m

[Philippe Maupas @philmop]

Is Claude Really a Boglehead? https://t.co/CCJ4HEdv2U

[Philippe Maupas @philmop]

Craig Coben on Anthropic's IPO:

❝ The deal may be too important to fail for the companies involved. That doesn’t necessarily mean investors will be rewarded for taking part. ❞ https://t.co/ZXlHMzOqOa

[Philippe Maupas @philmop]

❝ We see Anthropic’s IPO range, and downward revision from September targets, as a reflection of the current market sentiment vis-à-vis artificial intelligence, not the firm’s fundamentals. ❞ https://t.co/lAC7JzEqCz

[Philippe Maupas @philmop]

❝ The Anthropic IPO will be promoted as a chance to own a piece of the future. But most people with a global index fund already have a stake through Amazon and Google, and will soon hold Anthropic shares directly. ❞ https://t.co/K5NubTZslR

[Philippe Maupas @philmop]

could all change dramatically within a few years. ❞ https://t.co/Tber3nmSwV

[Philippe Maupas @philmop]

Ludovic Phalippou:

❝ I suspect future historians will find it remarkable that investors in 2026 assigned trillion-dollar valuations to companies operating in an industry whose products, competitive structure, and cost base ⤵️

[Philippe Maupas @philmop]

Ever heard of Corgi?

❝ Corgi currently has more than 200 ETFs trading on US exchanges. All were launched this year. There are more than 300 under consideration by the Securities and Exchange Commission that could start trading in the near future. ❞ https://t.co/5AU1us4qZo

[Philippe Maupas @philmop]

PitchBook's valuation of Anthropic is here. https://t.co/j4ldH6UrSp

[Philippe Maupas @philmop]

How AI Spending Creates Correlated Risk Across Asset Classes. https://t.co/EQZe1jhsuf

[Philippe Maupas @philmop]

The most unloved style in one of the most out of favour equity markets trounced the performance of the most in-vogue, technology-dominated region. Why has this occurred, and why have so few people noticed? ❞ https://t.co/0218VVHFeW

[Philippe Maupas @philmop]

How AI Spending Creates Correlated Risk Across Asset Classes. https://t.co/EQZe1jhsuf

[Philippe Maupas @philmop]

A very good episode of The Odd Lots podcast on the structured notes market. https://t.co/HNEBllvLkL

[Philippe Maupas @philmop]

It’s time to re-establish a disciplined focus on corporate governance. ❞ https://t.co/Zq1BRoBtgj

[Philippe Maupas @philmop]

John Authers:

❝ Woke 1.0 went too far, as its practitioners now accept, and there are huge flaws in the way ESG has been applied. But Ramaswamy’s election defeat last week suggests the anti-woke backlash also went too far. ⤵️

[Philippe Maupas @philmop]

Matt Levine:

❝ I guess my point here is that Jensen Huang’s affair with an alleged Chinese spy is plausibly the most expensive extramarital affair in human history? And it kind of should be? ❞ https://t.co/5y0EvIcLGQ

[Philippe Maupas @philmop]

Dave Nadig:

❝ While I personally haven't touched levered ETFs, if I was a day trader somewhere, I absolutely would -- they're where the hot-trades meet the hot-money. ❞ https://t.co/OOsxzp95xq