Back on the Grid

I just returned (tired and a bit bruised but otherwise happy) from a week long mountain bike trip from Telluride, CO to Moab, UT.  A few pics from the iPhone below.  As I play catch up, here are some of the things I’m reading and thinking about this week.

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Klarman just had another stock get bought out yesterday (ADCT).  His top 10 holdings clone on AlphaClone is beating the market by 17% YTD.

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Mauldin had a new book coming out next month – Eavesdropping on Millionaires: Secrets of the World’s Wealthiest Investors.  Also on the nightstand are Top Hedge Fund Investors: Stories, Strategies, and Advice and More Money Than God: Hedge Funds and the Making of a New Elite.

Tilson also has a new book coming out – Value Investing Course: Essential Strategies for Market-beating Return.

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In Politics, Sometimes the Facts Don’t Matter

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Hedging Tail Risk

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How Tax Efficient are Passive Equity Styles?

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Sovereign Defaults (and part 1 here)

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More pension fund woes

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Front porch view in Telluride…

Somewhere in the La Sal Mtns…

…and the finish line in Moab/Slickrock!