What I am Reading

Many investors looking for a “hedge” in hedge funds may be disappointed. . .

I read whatever Bridgewater puts out. Their recent commentary, “What Makes Us Different“, is a great piece.

They mention the belief that as a group, hedge funds are almost entirely investors (ie buyers of risk premiums). I examined this tendency in an earlier post titled “Holy Betas“. A simple buy and hold of five asset classes replicates the FOF index quite nicely.
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I am a sucker for evolutionary biology books. I bought a new book out on the subject by Jason Zweig,Your Money and Your Brain. It has been getting great reviews, so a copy is now in the mail.
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A few weeks ago a whale washed up on the nearby beach of Ventura. Luckily the local government decided to tow the whale away. That is, instead of trying to blow it up with dynamite.

“..the blast blasted blubber beyond all believable bounds.”