Weekend Reading – Asset Returns since 1900 & Warren Buffett’s Shrinking Alpha

Weekend Reading is a collection of Investment Research and Lifestyle topics from all corners of the Web.

We source the highest quality insights from Wall Street and Main Street that you may apply to your investment process. 

Unlike the rest of Bankeronwheels.com, this series is provided without additional guidance. 

As usual, everything is to be used at your own risk. 

TYPE OF CONTENT

Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years.

INVEST WISELY

This section is dedicated to research on how to invest for the Long Run using Passive Investment Strategies. Read Topics related to (i) Portfolio Construction and Asset Allocation (ii) Acting wisely by avoiding behavioural traps and also (iii) publications that help understand how financial markets work.

CONSTRUCT YOUR PORTFOLIO

Can You Trust The Banker? How To Choose The Best S&P 500 and MSCI World ETF.

Back in 2009, I managed client portfolios of CDO and CDO-Squared – some of the most complex, and toxic, financial instruments ever assembled by Wall Street Banks. After working out structured finance portfolios, synthetics raised my eyebrows. Not very Golden-retriever friendly, to say the least. 

But over the past years, the products got safer. So why investors choose them?

[Read our analysis]

How to Review Your Portfolio Performance (Peter Lazaroff - 11 min)

Also available on your favorite on your podcast platform

Measuring the success of your portfolio is important for several reasons, but most people don’t know how to properly measure the success of their portfolios. What are the differences between Portfolio-Based Benchmarks and Goals-Based Benchmarks & meaningful questions to ask when evaluating performance.

HOW TO INVEST

In conversation with Myron Scholes on How To Invest Your Money (What Happens Next? - 44 min)

Also available on your favorite on your podcast platform
Nobel Prize winner Myron Scholes and Elm Wealth’s Victor Haghani discuss the Golden Rules of Investing. Victor Haghani is one of the founders of Long-Term Capital Management. Myron Scholes won the Nobel Prize for his contributions to options theory. Myron will speak about the importance of diversification both across assets and time. 

UNDERSTAND FINANCIAL MARKETS

Tim Buckley on Finding His Purpose With Vanguard (Bloomberg - 48 min)

Also available on your favorite on your podcast platform

Bloomberg Radio host Barry Ritholtz speaks with Mortimer “Tim” Buckley, who is chairman and chief executive officer of Vanguard. Previously, Buckley was Vanguard’s chief investment officer and chief information officer, overseeing the company’s internally managed stock, bond, and money market portfolios as well as its investment research and methodology.

ACTIVE INVESTING

This section relates to improving your knowledge about active investing.  If you decide to sin, then sin only a little. Given ample evidence, combined active bets should be ideally a relatively small fraction of your portfolio. 

FACTOR & Thematic investing

In conversation with Blackrock's Head of Thematic Strategy (Meb Faber - 56 min)

Also available on your favorite on your podcast platform

Kate Moore is BlackRock’s Head of Thematic Strategy and a member of BlackRock’s Global Allocation investment team. Kate shares her framework for looking at markets from the perspective of a “macro equity investor.” Then she shares her view of global markets today and what key investible themes she’s focused on today. 

STOCKS

A data-driven approach to picking growth stocks and thematic baskets (Flirting With Models - 14 Min )

Also available on your favorite on your podcast platform

It’s no secret that high flying growth stocks were hammered in 2022, so here is a revisit of a conversation with Jason Thomson.

Jason is a portfolio manager at O’Neil Global Advisors, where he manages highly concentrated portfolios of growth stocks.

SUSTAINABLE investing

This section is about Sustainable Investing. You can invest in a Socially Responsible way but there are many ESG traps. Learn how to invest sustainably, and what it means for expected returns, with the our definitve guide to sustainable investing

3 Sustainable Investing Strategies That Actually Work

There are at least three proven sustainable investing strategies. 

To keep it simple, you may hold a non-screened portfolio and, use the incremental profits for philanthropy. 

If you want to avoid investing in certain types of industries, e.g. Tobacco companies, you may select cost-efficient and well-diversified SRI Funds. The most active sustainable strategy is Impact Investing. 

 [Read our analysis]

ALTERNATIVE ASSET CLASSES

FROM WALL STREET

Asness on Bloomberg about a Historic 2022 for AQR Hedge Fund

Choice Architecture & Role in Financial Decision Making (Rational Reminder - 51 Min)

Also available on your favorite on your podcast platform

The decisions we make may be further out of our control than we’d like to imagine. Today we are joined by Professor Eric J. Johnson to discuss choice architecture and its role in financial decision-making. Eric is a decision science expert and the author of the book, The Elements of Choice: Why the Way We Decide Matters. In this episode, we learn about the various factors that impact not only decision-making but the effort required to make a decision. Eric shares his philosophy on free will and shares advice for making important decisions and guiding clients to find the right choice as a financial advisor. Tune in to discover how to minimize the influence of the choice architect and take charge of your decisions!

crypto & blockchain

REMINDERS TO PUNT RESPONSIBLY

When you play with fire, you can get burned. This section is a stark reminder of what can happen when engaging in active investing, even as a professional.

In conversation with Madoff Trader & Investor Andrew Cohen (Excess Returns - 51 min )

Also available on your favorite on your podcast platform

With the recent release of the Netflix documentary “Madoff: The Monster of Wall Street,” many of us have been learning more of the details behind the scandal. Andrew Cohen, participated in the documentary and was both a trader on the legitimate side of Madoff’s business and a victim of the Ponzi scheme. Andrew gives us an inside look at what it was like to work in the Madoff organization and takes us through the timeline of events from when he started there to when the Ponzi scheme was uncovered.

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DIVE DEEPER - BOOKS & MOVIES

In the Book review section we rate some of the most relevant resources related to Financial Independence, Personal Finance and Investing. Browse All Book and Video Reviews.

15 Years On, We Fall For The Same Tricks – Madoff: The Monster of Wall Street On Netflix (Review)

OUR RATING
3.8/5

The 2023 Netflix docuseries Madoff: The Monster of Wall Street dives into the largest Ponzi scheme in history, worth $64.8 billion.

Although the Madoff madness stopped in late 2008, today’s investors still fall for the very same tricks.

What exactly can we learn from this series?

Let’s have a closer look. 

 [Read the review]

A Bankeronwheels.com Service
Take Control of Your Financial Future: Custom Coaching for Cost-Savvy Investing

Confused about asset allocation? Rethinking your portfolio strategy? Wondering how much you can safely withdraw for a seamless transition to part-time work or retirement?

Personalised guidance can often be the key to overcoming your investment dilemmas. At the request of our readers, we’ve launched a tailored coaching service designed to address your unique financial needs. Our readers have found such profound value in our sessions that they’ve confidently moved on from their traditional – and often very expensive – Financial Advisors.

A Bankeronwheels.com SERVICE

Take Control of Your Financial Future: Custom Coaching for Cost-Savvy Investing

Confused about asset allocation? Rethinking your portfolio strategy? Wondering how much you can safely withdraw for a seamless transition to part-time work or retirement?

Personalised guidance can often be the key to overcoming your investment dilemmas. At the request of our readers, we’ve launched a tailored coaching service designed to address your unique financial needs. Our readers have found such profound value in our sessions that they’ve confidently moved on from their traditional – often very expensive – Financial Advisors. 

PERSONAL FINANCE

This section is dedicated to UK and European Products. It can also touch on other European jurisdictions outside the Euro-zone.

Live, Love, Later - The Ultimate Early Retirement Checklists

  • The first ‘L’ is Living Life. How do you plan around life essentials while reducing unnecessary costs?
  • The second ‘L’ is Loving Life. It’s usually the mismanaged L. It’s not only about the destination but also the journey and values that define you today.
  • The third ‘L’ is Later Life. How to invest wisely for Early Retirement.

 [Read the review]

FINANCIAL PRODUCTS

COST OF LIVING

OUR Community

Question of the week

[democracy id="2"]

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DESIGN YOUR LIFESTYLE

This section is dedicated to the ‘Why’ of Investing, trends or career choices. 

LIFESTYLE

Optimising Life For Maximum Fulfilment (Bill Perkins - 50 min)

Also available on your favorite on your podcast platform

Bill Perkins is one of the world’s most successful hedge fund managers and entrepreneurs, and the author of the bestseller, Die With Zero. In this episode, Bill unpacks the Die With Zero philosophy which challenges conventional thinking related to the balance between health, wealth, and time—the three variables important for fulfillment. Bill makes the case that we should strive for maximum net fulfillment rather than net worth (or even health). He argues that we need to optimize our life to have memorable experiences before it’s too late and that most people are over-saving and under-living. Bill also explains how one can apply the principles in Die With Zero to break out of “autopilot” and optimize their life to achieve maximum net fulfillment.

EARLY RETIREMENT

CAREERS

TECH & ECONOMY

James Clear, Atomic Habits — Mastering Habits, Growing an Email List to 2M+ People (2hrs)

Also available on your favorite on your podcast platform

James Clear (@JamesClear) is a writer and speaker focused on habits and continuous improvement. He is the author of the #1 New York Times bestseller Atomic Habits, which covers easy and proven ways to build good habits and break bad ones.

Travel

miscellaneous

Revisiting Japan's Lost Decade (Konichi-Value - 29 min)

Also available on your favorite on your podcast platform

Japan was on its way to surpass the United States as the world’s largest economy, and the supply of infinite growth and prosperity seemed non-stop. Then, the party suddenly stopped.The video & podcast is a detailed depiction of Japan’s lost decade (1991-2001): The tragic tale of the world’s largest economic bubble burst and its consequences.

From Bankeronwheels.com
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