When looking at the ideal time to buy or sell stocks, the investor must consider the asymmetric reward/risk relationship of each opportunity. This post touches on understanding asymmetric risk and reward in the stock market. Essentially, the concept is around...
Identifying exceptional managerial ability is far from a scientific process with there being few objective and reliable tests of managerial competence, and the disciplined investor must resist the urge to invest in enterprises run by self-serving managers and...
The financial game is a wild space and when playing in that world it’s important to understand the difference between an investor and a speculator – both of which have drastically different views and long/short-term goals. This post touches more on that. First and...
As investors ourselves and consultants that guide financial institutions around the world, one question we often get is around the primary function of the market and how that relates to creating liquidity. And in reality, the market creates this liquidity by creating...
Many hedge funds are successful because they stick to their guns, focus on the strategies that produced returns in the past, and are savvy enough to see emerging trends and what’s likely to happen around the next turn. And that’s where hiring consultants comes into...
Family offices inherently operate in a bubble and one they’ve created with much success, however what we’ve seen over the years is how operating in such bubbles can many times inhibit the success/growth of family offices, so we wanted to drop this blog post. First and...
