Is wine a good investment? The liquid illiquid asset.

Michael Caine: “You can’t drink them, Freddy. They’re far too valuable.”
Steve Martin: “So you sell them?”
Michael Caine: “I’d never sell them, they mean too much to me.”
- Dirty Rotten Scoundrels (1988)

Be critical in this ETF love affair

“Know what you own, and know why you own it.”

- Peter Lynch

That’s why I chose Yale

34x returns. That’s how much you would have made if you invested with the Yale endowment fund over the last 30 years. The Yale Investment Office has had annualized returns of 12.5% during this period. For reference, if you had the brilliant foresight to put all your money in the S&P 500…

The art of (trade) war

“Very good grapes can be raised in Scotland, and very good wine too can be made of them at about thirty times the expense for which at least equally good can be brought from foreign countries. Would it be a reasonable law to prohibit the importation of all foreign wines, merely to…

Warren Buffett invests like a woman

“The stock market is a device for transferring money from the impatient to the patient…”
-Warren Buffett

TAKEAWAY OF THE WEEK

Ouch baby…very ouch

“The grim irony of investing is that we investors as a group not only don’t get what we pay for, we get precisely what we don’t pay for.”

- John Clifton ‘Jack’ Bogle, Founder of Vanguard, which now manages US$4.5 trillion

Risk it for the biscuit

It’s the last leg of the Amazing Race and you are barrelling towards the finish line. The only thing separating you…

Frontier skiing

“The whole is greater than the sum of its parts.”
- Aristotle

Very very boring stuff

“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.”

- George Soros

You were fairly confident with your hand after the turn and you raise. Now comes the river — but you…

Allocating for that bang for buck

“The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio — a portfolio that does well in different environments…. we don’t know that we’re going to win. We have to have…