13F Rebal Week, and Being Right or Making Money

I’m in Seattle the next few days – drop me a line if you’re around.


Time’s 50 Best Inventions ( The iSi Soda Siphon looks like a must order).

Lots of Top 10 Lists on the site including the very entertaining Top 10 Weird Insect Mating Rituals.


Kahneman on experience vs. memory.  If you don’t have time then skip to the Q and A.


I was reading an article on Peter Thiel today that reminded me a lot of Ned Davis’s fantastic book “Being Right or Making Money” (that is currently selling for a Klarman-esque $300 on Amazon).  For those not familiar, Thiel is one of the best entrepreneurs in the U.S. (PayPal co-founder, early Facebook investor).  However, after starting with some strong returns, his hedge fund Clarium Capital is looking at its third losing year in a row.  (If you want more info on Thiel (Wiki here) or on Clarium check out MarketFolly’s page.  Jay is a must read especially this week as all of the funds are filing 13Fs.)

I read all of his research I can get my hands on but it goes to show how difficult our business is, but also how difficult it is to translate economic theory, public policy, and personal views into actionable and more importantly, profitable investment ideas.