Future Returns – You’re expecting too much [TOP LINKS]

FUTURE RETURNS - YOU'RE EXPECTING TOO MUCH [TOP LINKS #19]

TOP LINKS is a periodic 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. 

Quote of the week

Risk and time are opposite sides of the same coin, for if there were no tomorrow there would be no risk. Time transforms risk, and the nature of risk is shaped by the time horizon: the future is the playing field.

Peter L. Bernstein, Against the Gods

LONG-TERM INVESTING

This section is dedicated to research on how to invest for the Long Run. Read Topics related to (i) Wise Investing – Investor Behaviour and Asset Allocation but also (ii) publications that help understand the Macro picture that may affect your portfolio in the long run.

WISE INVESTING

Buying The S&P 500 Today? Wait. These 8 Charts Show What You May Miss

Over the past 50 years, the U.S. Market has outperformed the rest of the world by a whooping margin of 1% per year. Guess, how much of the 50-year outperformance came in the last 8 years? All of it. [Read the article]

UNDERSTAND FINANCIAL MARKETS

[PODCAST] Expected Returns For Major Asset Classes

Antti is the author of Expected Returns (Wiley, 2011), a broad synthesis of the central issues in investing, and Investing Amid Low Expected Returns (Wiley, 2022), which addresses the challenges facing investors amid the prospect of record-low future expected returns.
Alpha Investing

ACTIVE INVESTING

This section relates to improving your knowledge about financial markets.  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. 

STOCKS

FACTOR AND THEMATIC Investing

[PODCAST] Talking Like Volcker, Value vs. Growth with Rob Arnott

Patrick Ceresna and Kevin Muir interview Rob Arnott to the show to discuss value versus growth stocks, the yield curve and whether it’s predicting or causes recessions, and why Rob thinks inflation will stay persistently high. 

ALTERNATIVE ASSET CLASSES

[PODCAST] Expected Returns for Alternative Asset Classes

RR unpacks the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. Hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. 

FROM WALL STREET

[PODCAST] Stanley Druckenmiller - the #1 Investors in the world

How Leaders Lead – “Stanley Druckenmiller, the #1 investor in the world. I know, that’s a big claim! But get this: during his 30 years managing money for investors, he had an average annual return of 31%. And he NEVER had a down year. So if you’re even a little interested in finance, you’re going to learn a lot from Stan – including some really practical investment advice and his take on the future of our economy”

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.

CRYPTO & BLOCKCHAIN

It’s not unreasonable to have skin in the game in a multi Trillion market. With one caveat. Be ready to lose it all. Remember that most crypto assets do not generate yield. If some do, there are hidden risks involved. 

INSIGHTS

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.

Movies and Books we reviewed this month:

Trillions – The People Behind Your ETFs

Trillions, how a band of Wall Street Renegates Invented the Index Fund And Changed Finance Forever, by Robin Wigglesworth is a fascinating insight into the people who made the Index Fund revolution happen. 

The stories about the people often start with some of their biggest failures. But beyond the stories, Robin also argues that every revolution brings its fair share of non-issues and sometimes real issues, such as concentration of power. 

 [Read the review]

European Stuff

PERSONAL FINANCE

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

PRODUCTS

COST OF LIVING

Cycling

DESIGN YOUR LIFESTYLE

This section is dedicated to the ‘Why’ of Investing and career choices. 

LIFESTYLE

[PODCAST] Ed Thorp on Mental Models for the Second Half of Life

Master Investor Ed Thorp on How to Think for Yourself, Mental Models for the Second Half of Life, How to Be Inner-Directed, How Basic Numeracy Is a Superpower, and The Dangers of Investing Fads.

EARLY RETIREMENT

miscellaneous

CYCLING

Good Luck & keep’em* rolling!

(* Wheels & Dividends)

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DISCLAIMER

All information found here, including any ideas, opinions, views, predictions expressed or implied herein, are for informational, entertainment or educational purposes only and do not constitute financial advice. Consider the appropriateness of the information having regard to your objectives, financial situation and needs, and seek professional advice where appropriate. Read our full terms and conditions.