Chart o’ the Day: No, it’s not all tech stocks

The US stock market has absolutely creamed international stock markets in the post-crisis recovery – at a rate of 2.5 to 1 by some measures. This has led to a popular misconception that it was the US indices’ weighting toward a few giant technology stocks that happened to have done really well (tech represents 25%…

Managing Risk is not the same as Taking Less Risk

Data Source: http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html. Calculations by Newfound Research. Past performance does not guarantee future results. A few years back, in the aftermath of the Great Financial Crisis, there was a twitter clown running around screaming about the need for individual investors to be shorting the market and placing trades all day in order to “manage risk.”…

“O.K., I just made a zillion dollars meditating.”

Gary Shteyngart writes incredible novels and is one of my favorite writers ever. Seemingly every paragraph in his books, like Absurdistan and Super Sad True Love Story, makes you laugh or think or both. Shteyngart recently spent some time with Michael Novogratz, the fallen hedge fund billionaire who blew up trading macro and then made…