Weekend Reading – How A Bad Investing Start Date Can Impact You & Insights on Hedging, Leverage and Gold
If you know, in the morning, what your day looks like with any precision, you are a little bit dead—the more precision, the more dead you are.
Featured
Becoming FREE – Part 1: Why Early Retirement May Back-FIRE (Banker on Wheels)
Bankeronwheels.com is dedicated to helping you become Financially Independent. But, some of our readers want to go even beyond that and target Early Retirement. They may be part of the Financial Independence, Retire Early Movement (known as “FIRE”). But beware, as the plan may back-FIRE (pun intended). Today, Romain – who as a Banker and a Management Consultant – was tempted by FIRE gives his fresh perspective. Here is Romain’s story. We hope it makes your journey easier.
Portfolio Construction
Asset Allocation
31 Years of Stock Market Returns (A Wealth of Common Sense)
I enjoy slicing and dicing historical stock market returns. I’m not naive enough to assume this helps predict the future. However, studying the past can provide a baseline to help set expectations when it comes to risk and a potential range of outcomes. Here’s a different way to look at returns over various time horizons for the S&P 500 going back to 1993.
In this episode of Excess Returns, we sit down with Jason Buck of Mutiny Funds to examine the idea of stocks for the long run and some potential challenges to it. We discuss: - Why the impressive historical returns of the US stock market may be an outlier - The importance of looking at real returns vs nominal returns - How to build a diversified portfolio to handle different economic scenarios - The concept of "fractal diversification" in portfolio construction - Rethinking sustainable withdrawal rates in retirement - The pros and cons of using leverage in a diversified portfolio.
Understand Financial Markets
How To Invest
Economist Eugene Fama: ‘Efficient markets is a hypothesis. It’s not reality’ (FT)
Fama is arguably the world’s most famous and influential finance professor, thanks to his revolutionary efficient market hypothesis — that stock market prices at any time incorporate all available information, thanks to the cumulative and unending efforts of millions of investors constantly trying to outfox it. The paradox is that as a result of their efforts, the stock market is in practice almost impossible to beat.
Active Investing
Factor Investing
How to Replicate Trend Following Managed Futures (Invest Resolve)
Trend-following managed futures strategies offer a compelling opportunity for investors to diversify their portfolios beyond traditional stocks and bonds. By capitalizing on persistent trends across a wide range of liquid futures markets – from commodities to currencies to equity and bond indices—these strategies have historically delivered attractive returns with low correlations to conventional assets.
Have the insatiable private markets eaten the small cap effect? (Cristopher Schelling)
In 1992, Eugene Fama and Kenneth French published a paper called The Cross-Section of Expected Stock Returns in the Journal of Finance. It’s not an exaggeration to say it changed the course of the investment industry, leading to the rise of risk factors and quantitative finance. Among their conclusions, these two future Nobel prize winners demonstrated that smaller capitalization stocks tended to outperform larger capitalization ones, and the effect was fairly pronounced.
Discretionary Investing
In developed market ex-u.s., deep value (cheapest 20%) is very cheap (GMO)
Deep value stocks are currently our highest conviction long-only investment idea. For the avoidance of any doubt, when we talk about “deep value,” we simply mean stocks that are cheap, often screamingly so, relative to our appraisal of their fair value. We do not care about a “growth” or “value” label that has been assigned, sometimes seemingly arbitrarily, by one index provider or another.
Alternative Asset Classes
The Optimal Gold Allocation – How Much Gold Does Your Portfolio Need? (Incrementum)
In this special publication we explore the critical role that gold plays in a diversified investment portfolio. As markets continue to navigate uncertainty, understanding the strategic benefits of gold allocation is more important than ever. How much gold does your portfolio need?
Wall Street
Bad Bets
ETFs
UCITS ETFs
Wealth Management
Personal Finance
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(Early) Retirement
In today’s opening monologue, Jesse explores the concept of Sequence of Returns Risk, a crucial and often misunderstood threat to retirees, by illustrating how poor returns early in a retirement can severely impact long-term stability. Jesse connects this to investing, explaining how the sequence of returns can greatly affect an investor’s experience, despite the long-term average returns.
Financial Advice
After-tax allocation strategies for high net worth clients (Blackrock)
If you serve high net worth clients, you’re likely having more conversations about tax efficiency these days. Innovation in financial markets has wealthier investors thinking about new ways to reach for higher after-tax returns, particularly as increasing tax costs loom on the horizon. Advisors have a timely opportunity to deepen loyalty, earn referrals and attract new clients by demonstrating how they increase after-tax wealth for their high net worth clients.
Design Your Lifestyle
Personal Development
Careers & Entrepreneurship
Travel
Tech & Economy
Economy
Tech & Science
And Finally
Good Luck and Keep’em* Rolling!
(* Wheels & Dividends)
Trade Wars, Real Wars, but Equities Close To All-Time Highs: Is It A Good Time To Invest?
7 Reasons Why Japan May Be Your Next Cycling Adventure
Nomads in 2026: Genki vs SafetyWing – Which Travel Insurance Wins?
How You Can Cycle The World – A Practical Guide
Weekend Reading – Vanguard Cuts Fees across 15 ETFs & IBKR launches prediction markets
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