moneymanager II ideacollector II traveller II lifehacker II thinker II looking for investment strategies that make sense II (all tweets are personal)
You like the idea of proving a strategy is broken rather than it is right.
This was the question Michael Covel asked Ewan Kirk of Cantab Capital during one of his recent trend following mega episodes. The answer was fascinating:
Today I came across an article of Gerry O’Reilly, portfolio manager of the Vanguard Total Stock Market Index Fund. The fund has $ 488 billion AuM.
Key success factor (besides Vanguard’s overall culture) is operational excellence / technology:
Expert Opinion, the latest memo of Howard Marks is once more an interesting read.
The reasoning throughout the memo resonates well with me since I believe it is worthwhile for a…