Weeklies (21 Sept 18)


Blair DuQuesnay: Truth Seeker

"Taking on the church of Wall Street is no easy task. Hundreds of thousands of people earn a living selling financial products. Most of these people are good people. Many are trying to do right by their clients. Our truth telling challenges their livelihood and understandably makes them uncomfortable. But we are not going to stop screaming our truth from the rooftops."

Follow Blair on Twitter @BlairHduQuesnay

Jamie Catherwood: The Holy Active Empire “The investing landscape as we know it today may not survive the onslaught of passive investing, but active investing itself is sure to weather this storm, just as it has done for millenniums." Follow Jamie on Twitter @jfc_3_

Epsilon Theory: It's a Floor Wax AND a Dessert "So who’s telling the truth? Is Coinbase running a prop desk or not? My belief – and to be clear I do not have a dog in this fight.. It’s worse than a prop desk." Follow Ben on Twitter @EpsilonTheory

Morgan Housel: Fool Me Three Times And I Give Up "Like Pavlov’s dogs, the learned condition we lost after the triple-hit trauma of the 2000s was accepting that average, normal, typical results are what you should expect to happen most of the time – practically all of the time – even if outliers are more impactful." Follow Morgan on Twitter @MorganHousel

Nick Maggiulli: One Decade Later "My point in recalling my experience (or non-experience) of the financial crisis was to illustrate that things that seem obvious to you and I (i.e. owning stocks) may not be obvious to someone who took a different path in life. Remember, it is easy for us to make arguments with data, but far harder to convince someone to forget their feelings."

Follow Nick on Twitter @DollarsAndData

JC Parets: Why Are You Here? Lessons From Wine Smelling Class "I do my best to continue learning, and to keep exploring and growing as a person and investor. Digging deeper and deeper into the wine world has exposed me to new ways of looking at things. The funny part is that as different as trading and wine tasting might be, they are really exactly the same in so many ways." Follow JC on Twitter @AllStarCharts

Wesley Gray: Momentum Investing, Like Value Investing, is Simple, but NOT Easy

  1. What is momentum?

  2. Do transaction costs destroy momentum profits?

  3. Is momentum too crowded?

  4. Can momentum work in the future?

Follow Wes on Twitter @AlphaArchitect

Eric Balchunas: How to Spark Excitement in Lifeless ESG ETFs "I’ve thought about this a lot and studied both hard and anecdotal data from an ETF perspective and have come up with five things that issuers of these funds could do to spark the kind of excitement that could lead to big flows."

Follow Eric on Twitter @EricBalchunas

Ben Carlson: Knowledge vs. Skill "Knowledge is table stakes. Mindless repetition isn’t going to improve your results. Developing useful skills requires going outside of your comfort zone and determining a clear plan of attack for getting better." Follow Ben on Twitter @AWealthofCS


Masters in Business: David Nadig Discusses the Future of ETFs "Barry interviews Nadig, who is managing director of and former director of ETFs at FactSet Research Systems. Nadig helped design some of the first ETFs as managing director at BGI, and as co-founder of Cerulli Associates, he conducted some of the earliest research on fee-only financial advisers and the rise of indexing." Follow Dave on Twitter @DaveNadig

Technical Analysis Radio: JC Interviews Ryan Detrick of LPL Financial "Ryan does an excellent job of using basic mathematics to debunk popular myths told to investors about the market. We discuss the impact of a rising rate environment on U.S. stocks, the Yield Curve, Stock Market Seasonality and some of the things he is currently watching."

Follow Ryan on Twitter @RyanDetrick

Freakonomics: How Sports Became Us "Dollar-wise, the sports industry is surprisingly small, about the same size as the cardboard-box industry. So why does it make so much noise? Because it reflects — and often amplifies — just about every political, economic, and social issue of the day. Introducing a new series, The Hidden Side of Sports."

The Hidden Brain: The Cassandra Curse "After a disaster happens, we want to know whether something could have been done to avoid it. Did anyone see this coming? Many times, the answer is yes. So why didn't the warnings lead to action? This week, we explore the psychology of warnings."

The Curious Investor: Taking Stock of Stock Myths "There is risk in every investment. This episode delves into three specific kinds of equity risks that tend to weigh on investors: home bias, market timing and inflation."


"Ryan and Jack discuss three articles published on our blog this week. First, they examine a paper by Linda Zhang investigating the volatility of leveraged ETFs. Second, they discuss an article examining stock momentum strategies (See blog post: "Momentum Investing, Simple, but not Easy")And ending with an article by Aaron Brask examining the value of retirement accounts."

Follow Ryan and Jack on Twitter at @RyanPKirlin and @JVogs02



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