How Markets Work
Your Portfolio Intuition Is Poor
Our instincts about the role of correlation are not well-tuned
Latest
How Markets Work
The Antisocial Advantage
When "disagreeable" is an adaptive trait
Risk and Edge
Percents Are Tricky
Possible pitfalls of thinking in percents with ratios
Options and Volatility
The Volatility Drain
The arithmetic behind how increased volatility reduces average compounded returns
How Markets Work
The Peace Dividend of Overvaluation
What high prices beg for
Risk and Edge
Levered ETF/ETN tool
Compute the amount of dollars required to rebalance a levered exposure
How Markets Work
The difficulty with shorting and inverse positions
The brutal arithmetic behind shorting
How Markets Work
Are car leases confusing?
Leases are options with an embedded cost of carry