AlephBlogDM's profile picture. The two main goals: teaching investors about better investing through risk control, and tying all of the markets into a coherent whole.

David Merkel

@AlephBlogDM

The two main goals: teaching investors about better investing through risk control, and tying all of the markets into a coherent whole.

'Eifert agreed, saying that a typical 60/40 equities to bonds portfolio “massively outperforms owning equities and having a put spread caller consistently over all periods of time forever.”' bloomberg.com/news/articles/… Complexity is used to cheat retail investors


How the rich avoid paying taxes vox.com/politics/46576… Correct. You aren't going to solve this problem until you redefine taxable income. Tax rates don't matter so much. Can we do look-through on trust income to the owners or beneficiaries? EBITDA tax on PE?


The China Model’s Fatal Flaw foreignaffairs.com/china/china-mo… It's inherent in their industrial policy, funding methods, taxation, evaluation of local bureaucrats. China is less productive then most imagine. Their GDP may be shrinking, if measured fairly.


Americans are losing millions to scammers at crypto ATMs. Here’s how companies profit cnn.com/interactive/20… Just make crypto illegal. Or at least make crypto ATMs illegal. There is no good public policy grounds for this.


Arnold Schwarzenegger has returned to the political arena—this time as the celebrity muscle against a state ballot measure in California that would bring back gerrymandering to favor Democrats wsj.com/politics/arnol… He should run again for CA Governor. We need more centrists.


On the Clock: How ’overqualified’ job applicants can avoid scaring off cost-conscious employers wsj.com/lifestyle/care… The problem is screening software, which screens out great candidates, while letting in lousy candidates that have all the right "keywords." AI could fix this.


US Treasuries consolidated Wednesday’s losses, when Federal Reserve Chair Jerome Powell cast doubt on whether policymakers would deliver a third consecutive interest-rate cut in December bloomberg.com/news/articles/… We are almost always flying in a fog; the fog is thicker now


Masayoshi Son’s big wager on artificial intelligence has paid off — propelling the SoftBank founder past Uniqlo billionaire Tadashi Yanai to become Japan’s richest person bloomberg.com/news/articles/… Undeserved. This will not last.


Ontario Premier Doug Ford called on US Ambassador Pete Hoekstra to say he’s sorry for cursing in public at the Canadian province’s trade envoy bloomberg.com/news/articles/… Very clever to quote Reagan, a man far smarter than Trump.


From Amazon to Target, the country’s largest employers are retrenching, laying off tens of thousands of office workers wsj.com/economy/jobs/w… Like the creation of assembly lines, there will be a lot of job losses before balance comes; we need well-paid workers to buy our wares.


Morgan Stanley agreed to buy a trading platform for shares in private companies, the latest move by Wall Street to expand offerings for fast-growing startups bloomberg.com/news/articles/… Interesting idea, but the real question is pricing illiquid shares.


Mining companies are selling shares at the fastest clip in a decade, and investors looking for exposure to sharply higher gold prices and in-demand critical minerals can’t get enough. bloomberg.com/news/articles/… Usually better to buy gold than gold miners, because of depletion.


Fiserv shares plunge after it slashed its outlook for full-year earnings and said it’s overhauling its top leadership committee bloomberg.com/news/articles/… Did $FI cook the books? Accruals don't look out-of-whack...


Old drugs usually go way down in price, but not all of them. Here’s one that has gotten a lot more expensive over its decades on the market bloomberg.com/news/articles/… Difficult for a maker of generics to create a generic version of a complex biological drug.


Home prices gained the least in over two years, slowing for the seventh straight month in August as buyers gained leverage in negotiations and inventory grew. bloomberg.com/news/articles/… Mortgage rates rise with the FOMC cut.


CoreWeave Inc.’s $9 billion proposed tie-up with data center provider Core Scientific Inc. is increasingly in doubt ahead of a key shareholder vote Thursday, based on trading signals from the market. bloomberg.com/news/articles/… Reverse arb trade could work $CRWV $CORZ


Johannesburg will host the G20 Summit next month and South African leaders have one request of the city: Don’t embarrass us. That may be too much to ask. wsj.com/lifestyle/trav… You have to hunt for things that are going well. 🙁


Prologis, the world’s No. 1 owner of industrial real estate, says companies are ramping up their warehouse-leasing decisions after three years of slow demand wsj.com/articles/prolo… $PLD becomes an AI play.


The owner of the Dallas Cowboys has poured more than $1 billion into a company that is trying to unleash new gas supplies by drilling some of the nation’s hottest, deepest wells wsj.com/business/energ… Bold moves investing for the long-term $CRK


In fact, the previous session was really quite unusual. Since 1990, the S&P 500 has never had an up day with weaker breadth than Tuesday, according to Bespoke Investment Group strategists. bloomberg.com/news/articles/… All sectors flat/down except tech. Tech big enough to drag S&P up


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