Michael

Portfolio Manager

[qm @quantymacro]

Paradox of Alpha Uncertainty

free-ish article: just RT & leave email in form

If you read exchanges btw @__paleologo & @0xfdf on port opt, or gappy's book ch9 but you don't really get it, this article uses crayon drawings to partially explain

TW: has the word "eigenportfolio"

[bittermelon @melon_thief]

@robertgraham The backside of the Meta offices at 1 Hacker Way serves as a grim reminder

[Clifford Asness @CliffordAsness]

I propose a new method to settle all Twitter arguments. The first side who eventually uses "you're" when they should've used "your" or vice versa loses.

I have observed people have already been informally using this system. Peace in our time.

[Michael @quantacide]

@bleedsixcolors I feel you are the best suited to address this -- why did Apple introduce the slash through volume control (instead of no sound waves) to indicate mute?

[Clifford Asness @CliffordAsness]

https://t.co/TyQfjf5XzS

“The only way that we will convince businesses to do good and move away from profit maximization as a primary focus will be by holding them legally accountable to do so.”

This word “convince”? I don’t think it means what you think it means...

[Clifford Asness @CliffordAsness]

No.

[Michael @quantacide]

Chicken by Maceo Parker https://t.co/Zb6gFOhjC7 #NowPlaying

[Joe Weisenthal @TheStalwart]

Can't believe people are getting paid not to work says a fixed income investor

[Gavin Baker @GavinSBaker]

We are in a severe recession. My current thoughts for both companies and investors.

Take them with a large grain of salt as I am partially thinking out loud and reserve the right to change my mind. Feedback and criticism would be appreciated.

https://t.co/4d7kuA3Rhq

[Jesse Livermore @Jesse_Livermore]

OK, here's the new piece!

The Earnings Mirage: Why Corporate Profits are Overstated and What It Means for Investors

Executive Summary (from @patrick_oshag): https://t.co/DRQOGYZLWy

Main Piece: https://t.co/NH5YibqHtY

Hope you enjoy!

[Michael @quantacide]

@htsfhickey You’re ignoring the price inelasticity of the iPhone. The X will be one of the best selling iPhones of all time.

[Razorbill Advisors @RZB_Advisors]

We think that in 2016 the nationalization of failing banks should no longer be a source of market stress.

[Shira Ovide @ShiraOvide]

Yes, you want to read a feature about bacon packaging. https://t.co/h0zinOwsrn

[Michael @quantacide]

@EmanuelDerman I use zero and one; which circuit is complete? Now as for me remembering positive and negative, that’s another story.

[Michael @quantacide]

Never a surprise: https://t.co/HHf7UO09EI

[Ben Carlson @awealthofcs]

Just as everyone predicted a few years ago:

S&P at all-time highs
Oil at $45/barrel
Negative gov't bond yields
UK votes to leave the EU