Trade Executed

We bought Blackrock (BLK) for most large accounts last Thursday. We have obviously been underweight US financials for years and while we are in no hurry to make a meaningful commitment to US banks there are other companies in the sector that are fundamentally sound. Blackrock is a buyside money manager and of course owns iShares. Demand for investment management from delegaters is likely to grow as is demand for investment products from do-it-yourselfers who want ETFs, iShares of course is the largest ETF provider. As an administrative note, for the time being there will be fewer posts but I will continue to disclose trades and will have the occasional post perhaps pointing to something I found interesting or...

Trade Executed

We bought Blackrock (BLK) for most large accounts last Thursday. We have obviously been underweight US financials for years and while we are in no hurry to make a meaningful commitment to US banks there are other companies in the sector that are fundamentally sound. Blackrock is a buyside money manager and of course owns iShares. Demand for investment management from delegaters is likely to grow as is demand for investment products from do-it-yourselfers who want ETFs, iShares of course is the largest ETF provider. As an administrative note, for the time being there will be fewer posts but I will continue to disclose trades and will have the occasional post perhaps pointing to something I found interesting or...

Taleb Go Boom

A very fun read about the most recent Nassim Taleb Twitter-War that all started with the following; Click here for the rest, it really is a...

Taleb Go Boom

A very fun read about the most recent Nassim Taleb Twitter-War that all started with the following; Click here for the rest, it really is a...

And That’s All I Have To Say About That

A big reason for maintaining this blog has been to try to help anyone interested to become a little more knowledgeable in terms for market cycles, portfolio construction, product evolution, retirement planning and a bunch of other things.  Along the way I have benefited too having been able to do things I would not have otherwise been able to do, meet people I would not have otherwise met and it has helped our business some as well. One idea that I have addressed a few times before is that in a massive bull market there is a whole lot less for an active manager to do other than to just try to go along for the ride. If there is less to do then there must be less to say (or write about). The market is blowing off as Fed policy is working to inflate asset prices. Typically the term blow off in this context implies the up move will end soon but I am not sure that applies now unless the Fed were to announce it was stopping its treasury purchases and was raising rates. That probably won’t be happening anytime soon. In this environment it is important to have exposure, capture at least a decent portion of the lift while remaining disciplined to whatever it is you believe its right for your investment objective and without chasing anything. It is a delicate balance but that is was the last couple of years has been about. For the time being there will be less blogging. This is not the end of the blog and it does not mean no...