How Markets Work
Bubbles: Knowing You’re In One Is Not Even Half The Battle
Knowing something is a bubble doesn't prescribe an easy action
How Markets Work
Knowing something is a bubble doesn't prescribe an easy action
How Markets Work
A qualitative appreciation for the asymmetry of shorting
How Markets Work
The foundation of all trading
How Markets Work
Information games
How Markets Work
The problem with buying "low" and selling "high"
How Markets Work
Payment for order flow, market segmentation, and returns to scale
How Markets Work
The difficulty of extracting what markets imply
Risk and Edge
Seeing the present clearly
How Markets Work
First principles or fast-follow?
How Markets Work
Different state tax regimes make home price comparison difficult.
How Markets Work
DCF valuations underestimate the value of an asset will trade for.
How Markets Work
Syngerstic bids look expensive to those without the same diversification advantages
How Markets Work
The moontower version of the "efficient markets hypothesis"
How Markets Work
Examples of a counterintuitive aspect of portfolio theory
How Markets Work
How oil tested assumptions that hold most of the time
How Markets Work
Markets are not democracies