Archive

weekly_cover_2024072

2024-07-26

On timing and patience

Dont-Let-the-Tax-Tail-Wag-the-Investment Dog

2024-07-12

Don’t Let the Tax Tail Wag the Investment Dog

Gold

2024-06-28

On gold, briefly

Procrastination

2024-06-21

Procrastination

Parting ways

2024-06-14

Parting ways

weekly_cover_2024-05

2024-05-31

2024-05-31: 18 minutes

Average-mortage-loan-rates

2024-05-24

2024-05-24: Markets

Global-total-fertility-rate

2024-05-17

2024-05-17: Markets

weekly_cover_v2_2024

2024-05-03

2024-05-03: Star

2024-04-26--EXPECTATIONS

2024-04-26

2024-04-26: Expectations

Walter-Bonatti-Un-mondo-Perduto-Dalai

2024-04-19

2024-04-19: Nature

weekly_cover_1_2024-

2024-04-12

2024-04-12: Markets

It-is-mada-from-one-hundred-per-cent-dinosaur

2024-04-05

2024-04-05: Liquidity

Happy-Easter

2024-03-29

2024-03-29: Happy Easter

weekly_cover_2024032

2024-03-22

2024-03-22: Testimonials

Demographic-factor-in-US-population-grow.

2024-03-15

2024-03-15: Musings

trade-disruptions

2024-03-08

2024-03-08: Letter to shareholders

stock-and-bond-performance-from-1792

2024-03-01

2024-03-01: Time

weekly_cover_2024022

2024-02-23

2024-02-23: The importance of expectations

Markets

2024-02-16

2024-02-16: Markets

Sweating-the-small-stuff

2024-02-09

2024-02-09: Markets

GPP-growth-among-G7-nations-2023-2024

2024-02-02

2024-02-02: Markets

Weekly_image_2024012

2024-01-26

2024-01-26: Markets

SP-500-jan-3-2019-jan-19-2024

2024-01-19

2024-01-19: Markets

Market-and-Real-Estate

2024-01-12

2024-01-12: Markets (and Real Estate)

Bills-enacted-by-congressional-session

2024-01-05

2024-01-05: Markets

29-12-2023 Markets

2023-12-29

2023-12-29 – Markets

Xmas_2023_v2_small

2023-12-22

Merry Christmas

weekly_cover_2023121.

2023-12-15

2023-12-15 Markets

Weekly_cover_2023120

2023-12-08

2023-12-08 Markets

Sandra Day O'Connor

2023-12-01

2023-12-01 Markets

pop_growth_in_us_Scr

2023-11-17

2023-11-17 Markets + Immigration and More

2023-11-03

2023-11-03 Markets

2023-10-06

2023-10-06 Markets

La-stretta-monetaria-della-BCE-non-si-ferma

2023-09-15

2023-09-15 Markets

Venezuela-GDP-contraction-during-Maduro-presidency

2023-09-08

2023-09-08 Markets

estimated-US-workers-on-strike

2023-08-25

2023-08-25 Markets

weekly_cover_2023081

2023-08-18

2023-08-18 Markets

US-office-space-constrution-and-removal

2023-08-11

2023-08-11 Markets

MARKETS & MERCATI 2023-08-04 US-badget-balance

2023-08-04

2023-08-04 Markets

Markets-e-mercati-2023-07-28

2023-07-28

2023-07-28 Markets

markets-e-mercati-2023-07-21

2023-07-21

2023-07-21 Markets

2023-07-14

2023-07-14 Markets

20230623_weekly_cove

2023-06-23

2023-06-23 Markets

for_20230615_weekly_

2023-06-16

2023-06-16 Markets

cover_for_20230609_m

2023-06-09

2023-06-09 Markets

2023-06-02

2023-06-02

2023-06-02 Markets

Markets-e-mercati-2023-05-26

2023-05-26

2023-05-26 Markets

arkets-e-Mercati-2023-05-19

2023-05-17

Markets & Mercati 2023-05-19

Roberto Toninello

Markets-e-Mercati-2023-05-12

2023-05-12

2023-05-12 Markets

Markets-e-Mercati-2023-05-05

2023-05-05

2023-05-05 Markets

Markets-e-mercati-2023-04-28

2023-04-28

2023-04-28 Markets

Markets-e-mercati-2023-04-21

2023-04-21

2023-04-21 Markets

Markets-mercati-2023-04-14

2023-04-14

2023-04-14 Markets

picasso_and_dali

2023-04-07

2023-04-07 Markets

The-Flatiron

2023-03-31

2023-03-31 Markets

Boccioni_those_who

2023-03-29

Investors need to grow up

cover_for_2023-03-24

2023-03-24

2023-03-24 Markets

rendimento-BTP-Italia-giugno-2022

2023-03-17

2023-03-17 Markets

where_is_waldo_81JRA

2023-03-10

2023-03-10 Markets

germ_usa_10yr_breake

2023-03-03

2023-03-03 Markets

2023-02-24

2023-02-24

2023-02-24 Markets

2023-02-17

2023-02-17

2023-02-17 Markets

Marketts - Super-Bowl-commercials

2023-02-10

2023-02-10 Markets

Cost-of-a-Big-Mac-in-select-countries

2023-01-27

2023-01-27 Markets

For_230120_week

2023-01-20

2023-01-20 Markets

2023-01-13

2023-01-13

2023-01-13 Markets

for_weekly_markets_2-1

2023-01-06

2023-01-06 Markets

Abiding by regulation

2022-06-04

Abiding by regulation

States_of_Mind_III_T

2022-02-21

Active management is no longer needed today

The_Conjurer_by_Jher

2021-12-02

On benchmarks and their misuse

HOW-DIFFICULT-CAN-IT-BE

2021-05-27

How difficult can it be?

good-bad-ugly-3117

2021-04-16

Private Equity: the good, the bad and the ugly

Patience-by-Danny-Ro

2021-03-27

How long should you stay with an investment?

Out of the box

2021-02-24

Out of the box – The poetry of extinction

Value_and_Growth_Scr

2021-02-07

Value and growth

A multi-century elevator ride

2021-01-21

A multi-century elevator ride

Salvador-Dali-The-Persistence-of-Memory-1931

2020-12-22

Intelligence Is Over-Rated

Out of the box

2020-10-08

Out of the box – On Overconfidence

Out of the box

2020-08-21

Out of the Box – On exponential growth bias and three art books

artist-and-his-model-1926

2020-08-14

Investing Business Modelling

Out of the box

2020-08-12

Out of the Box – All the people: what happens if humanity’s ranks start to shrink?

An example of an often-cited comparison in the context of influence

2020-08-07

Asset Classes vs Portfolio Strategies

Out of the box

2020-08-04

Out of the box – fear, lockdown, and diversion: comparing drivers of pandemic economic decline 2020

Out of the box

2020-07-25

Out of the Box – Why Can’t Trump’s America Be Like Italy?

Unintended Consequences

2020-07-16

Unintended Consequences

Out of the box

2020-07-03

Out of the Box – The Performance of Hedge Fund Performance Fees

Out of the box

2020-06-22

Out of the Box – Private Equity Returns & The Billionaire Factory

Out of the box

2020-06-15

Out of the Box – Trump thought I was a secretary

Out of the box

2020-06-02

Out of the Box – How Mitch McConnell Became Trump’s Enabler-in-Chief

argentina-5-Emilio-Pettoruti-AMA

2020-04-29

Argentina

Far-East-Chinese-Restaurant-In-New-York-City-Painting-By-Dwight-Goss

2020-04-24

The Sense of the Restaurant

Alessandro Perricone

inflation-in-germany-gutenberg-mary-evans-picture-library

2020-04-19

Inflation

Roy-Lichtenstein-Crying-Girl-1963

2020-03-13

Misinformation

Angel-of-the-North-sculpture-Antony-Gormley-1998

2020-02-28

Know Where You Stand

Vampire states, the killers of prosperity and freedom

2019-09-06

Vampire states, the killers of prosperity and freedom

Fernando del Pino Calvo-Sotelo

magritte-pipe-for-this-time-is-different

2019-07-14

This time is different

Beauty-in-randomness

2019-06-21

Beauty in randomness

on risk

2019-05-31

On risk

maurizio_cattelan_l-o-v-e_w800_001221

2019-04-20

How to respond when someone shows you a new fund

Three-Flags-Jasper-Johns-1958

2019-04-14

Recently in our current reads

joe-biden-factor

2019-04-07

The Biden factor

Three-Flags-Jasper-Johns-1958

2019-03-31

The week in our current reads

Three-Flags-Jasper-Johns-1958

2019-03-19

Recently in out of the box

up-on-the-roof

2019-03-19

Up on the roof

Fiscal-Irresponsibility

2019-02-15

“Intuitive” oilicy is often wrong: tax code edition

PIZZA-photo-1534308983496-4fabb1a015ee

2019-02-08

Pizza

fullsizeoutput_883

2019-01-21

A wall with a view, 2019

Stock Picking in Action

2018-12-29

Stock Picking in Action

The January Effect

2018-12-21

The January Effect

Twisters

2018-11-30

Twisters

The happiness equation

2018-11-15

The Happiness Equation

Anniversary to Forget

2018-11-02

Anniversary to Forget

Free ETFs

2018-09-28

Free ETFs

Andy-Warhol-One-Dollar-Bill-Silver-Certificate-1962-Courtesy-Sothebys

2018-09-14

Client Experience

Tune Out the Noise

2018-08-17

Tune Out the Noise

REVEALED: Theresa May’s secret letter to the EU’s Michel Barnier

2018-08-01

REVEALED: Theresa May’s secret letter to the EU’s Michel Barnier

Hilarious Weber-Wild

Doing Well and Doing Good

2018-07-06

Doing Well and Doing Good

Please Mind the Gap

2018-06-15

Please Mind the Gap

Privacy Matters: A Special Report

2018-06-01

Privacy Matters: A Special Report

market-crash

2018-05-18

Do Not Be Afraid of a Market Crash

If It Looks Like It Hurts, It Probably Does

2018-05-11

If It Looks Like It Hurts, It Probably Does

Atlantic or Mediterranean?

2018-04-27

Atlantic or Mediterranean?

Elite Triathletes and Investors

2018-04-20

Elite Triathletes and Investors

Sailing

2018-04-07

Sailing

A Presentation Is Worth a Thousand Trees

2018-03-30

A Presentation Is Worth a Thousand Trees

Investment Mistakes

2018-03-11

Investment Mistakes

regulations

2018-02-27

Regulations

financial-compatibility

2018-02-16

Financial Compatibility

the-good-client-good-apple

2018-02-09

The Good Client

Pet-Rock

2018-02-02

A Little Bit of This, A Little Bit of That

Focus-on-control

2017-12-22

Focus on control

balancing-financial-risk

2017-11-24

Risk and return revisited

pictet-ad-with-seaplane

2017-10-30

Confusion that pays

Presentation-overload dilbert

2017-10-20

Presentation overload

loving-parents

2017-10-16

Loving parents

over-the-speed-limit

2017-09-27

Over the speed limit

Back-to-School

2017-09-02

Back to school

amazon-giveaway

2017-08-23

On Amazon.com and competition

mercedes-x-class-production-truck-52

2017-08-04

Santa Fe

Brief-reflections

2017-07-30

Brief reflections on portfolio risk and the impact of withdrawals

Intelligence in investing

2017-07-18

Intelligence in investing

Etch-a-sketch

2017-05-29

Etch-a-sketch

esgzation-of-asset-management

2017-04-19

The ESG-zation of the asset management industry

benchmarks reinvented

2017-04-08

Benchmarks, reinvented

finbox-io

2017-03-20

Finbox.io

Timing is everythings

2017-03-12

Timing is everything

performance-fees

2017-03-05

Paying for performance can be bad for your wealth

bla-bla-final-version

2017-02-12

Private banking (or not)

off-to-the-races

2017-02-05

Off to the races

transparency-games

2017-01-15

Transparency games

Screen-Shot-2017-01-05-at-19.51.27

2017-01-08

The price of friendship

Even a Broken Clock Is Right Twice a Day

2016-12-21

Even a Broken Clock Is Right Twice a Day

Trusting and Giving

2016-12-09

Trusting and Giving

Overengineering

2016-11-27

Overengineering

On the Independence of Central Banks

2016-11-15

On the Independence of Central Banks

hey-you

2016-11-07

Hey You!

Changing Racing Team in Mid-Season

2016-10-30

Changing Racing Team in Mid-Season

Now and Later

2016-09-23

Now and Later

Monetary (and other) Policies of Fear

2016-09-12

Monetary (and other) Policies of Fear

Paying for Insurance in a World of Low Returns

2016-08-21

Paying for Insurance in a World of Low Returns

A Small World

2016-08-09

A Small World

Yen and Gold

2016-07-26

Yen and Gold

smart-beta-pic-for-post

2016-07-11

Smart Beta, Dumb Beta: How Many Betas Does It Take to Screw a Portfolio?

Where’s Brexit?

2016-07-04

Where’s Brexit?

brexit

2016-06-27

The Day After

In Pursuit of Dreams

2016-06-13

In Pursuit of Dreams

happy-national-doughnut-day

2016-06-06

Pricing Futility

Of Death and Taxes (and Cockroaches)

2016-05-30

Of Death and Taxes (and Cockroaches)

Eenie, Meenie, Minie, Moe

2016-05-23

Eenie, Meenie, Minie, Moe

Of Robot and Robots

2016-05-16

Of Robot and Robots

This Is Close to My Heart

2016-05-09

This Is Close to My Heart

All Alone with Your Money

2016-04-26

All Alone with Your Money

FED

2016-04-19

Il deserto dei Tartari

Facebook mode

2016-04-17

Black and – but Preferably OR – White

GAAP vs Non-GAAP

2016-04-02

GAAP vs Non-GAAP

Brands

2016-03-22

Brands

Short-term allure

2016-03-02

Short-term allure

The hardwiring problem

2016-02-25

The hardwiring problem

This will be tough

2016-02-19

This will be tough

the market for something to believe in is infinite

2016-02-05

The shotgun approach to investing

WHAT DO ASSET MANAGERS REALLY WANT?

2016-01-28

What do asset managers really want?

2016-01-06

SO I OPENED A CAN OF SPRITE…

merry-christmas-mrs-alvey

2015-12-22

Merry Christmas, Mrs. Alvey

Update on oil market

2015-12-16

Update on oil market

Bernard Madoff

2015-12-13

Believing performance

_73723896_coyote

2015-11-13

A Minsky Moment here and there

Out of the box

2015-11-11

Beyond the box: readings & letture

Cracked Matador Final sample

2015-11-06

A new bull in a China shop

Out of the box

2015-11-04

Beyond the box: readings & letture

It's a commercial issue

2015-10-30

It’s a commercial issue

AAII-Cash-Deviation-mean

2015-10-18

Cash

Out of the box

2015-09-23

Beyond the box: readings & letture

Chinese market turmoil

2015-09-18

Now what?

Out of the box

2015-09-14

Beyond the box: readings & letture

2015-09-11

How can I miss you when you won’t go away

Out of the box

2015-09-05

Beyond the box: readings & letture

Out of the box

2015-09-01

Beyond the box: readings & letture

The Meaning of China

2015-08-29

The meaning of China

Out of the box

2015-08-25

Beyond the box: readings & letture

Out of the box

2015-08-20

Beyond the box: readings &letture

Cracking-Control-in-Dam

2015-08-16

Cracks on the dam

Davidson-Donald-Trump-and-Megyn-Kellys-Body

2015-08-15

The problem with Trump

The way to progress

2015-06-26

The way to progress

forest for the trees

2015-06-21

When looking at a tree, never forget the forest

2005-2015

2015-06-15

2005-2015

us-and-germ-30yr-yields

2015-06-04

Beware what you wish for

book-buy-sell-sell-new

2015-05-12

If we are always “taking profits” how come some of us still lose money?

Le Jardin Exotique de Monaco- Not a good place to fall

2015-05-10

Not a good place to fall

Conventional Clichés

2015-04-26

Conventional clichés

The-glass-is-half-full-the-glass-is-half-empty

2015-04-21

The glass is half full; the glass is half empty

I’m not dead yet! – Addendum

2015-04-17

I’m not dead yet! – Addendum

2015-04-13

I’m not dead yet!

In the long run the short term wins

2015-04-10

In the long run the short term wins

Screenshot-2025-08-09-alle-20.00.51

2015-04-06

When I’m 64

Doc

2015-03-29

DOC

Why wouldn’t you invest in stocks

2015-03-23

Why wouldn’t you invest in stocks

To earn a return

2015-03-15

To earn a return

Nothing new under the sun

2015-03-08

Nothing new under the sun

Are We Over 2000?

2015-03-04

Are we over 2000?

This may surprise you

2015-02-26

This may surprise you

!Q84

2015-02-22

1Q84

2015-02-15

All along the watchtower

Trasparent Money

2015-02-12

Transparency

Numbers May Not Mean Anything

2015-02-03

Number may not mean anything

w_5-Ascent-Signature-Dragon

2015-01-17

A time to give

Scattered clouds or sand pile?

2015-01-12

Scattered clouds or sand pile?

The meaning of losing money

2015-01-06

The meaning of losing money

When a duck is not a duck

2014-12-31

When a duck is not a duck

1653222877_13368

2014-12-13

The discrete charme of hypocrisy

The-children-of-men

2014-12-07

Hope springs eternal

Time and Time Again

2014-12-02

Time and time again

Oil, oil... so much oil

2014-11-30

Oil, oil… so much oil

Where’s the beef?

2014-11-26

Where’s the beef?

The "first call" test

2014-11-23

The “first call” test

where-are-the-customers-yachts

2014-11-20

Where are the customers’ yachts – redux

Riflessioni autunnali

2014-11-19

Autumnal musings