Investment Strategy

No strategy: Investors who don’t have a strategy have been called Sheep. Arbitrary choices modeled on throwing darts at a page (referencing earlier decades when stock prices were listed daily in the newspapers) have been called Blind Folded Monkeys Throwing Darts. This famous test had debatable outcomes. Active vs Passive: Passive strategies like buy and hold and passive indexing are often used to… Read More

Ed Thorp: the man who beat the casinos, then the markets

From the Financial Times: John Authers talks to the ‘godfather’ of investing about Madoff, moneymaking and madcap inventions  Lunch with the FT As far as Ed Thorp is concerned, Wall Street is no better than a casino — not because it is a gamble, but because it is fixed. “The invisible hand has become the invisible middle finger. It’s a… Read More