Learner, consultant, blogger, runner, gardener | @AlphaBetaBlogFR in š«š· | CFA, CAIA, CIPM | #financiallitteracy #literature #history
Paris, France
Joined February 2009
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If you think asset managers have a crystal ball, you can read JPMorgan AM's 2027 long-term capital market assumptions. TL;DR: the environment calls "for thoughtful diversification". am.jpmorgan.com/us/en/asset-ā¦
The authors of this reseach paper found that "passive bond funds underperform most active bond funds because index-tracking costs of illiquid bonds impose substantial performance drags." papers.ssrn.com/sol3/papers.ā¦
Allan Roth:
ā Investing based on common knowledge is, at best, failing to understand that this knowledge is already priced into the market. At worst, itās performance-chasing buying overvalued investments. ā morningstar.com/financial-adā¦
Tony Isola:
ā Stick to low cost index funds and concentrate your energies on a very achievable goal, beating the people market. ā tonyisola.com/2026/10/its-neā¦
AI in Asset Management, a digest from Enterprising Investor. rpc.cfainstitute.org/blogs/eā¦
Matt Levine has an hilarious story about Datavault AI Inc.:
ā It does kind of seem like, for a while last year, the US stock market would pay $2 for $0 worth of Bitcoin. ā bloomberg.com/opinion/newsleā¦
What explains the lack of a vibecession? ft.com/content/a3d8efb2-6553ā¦
Good to know that the SEC still has examination priorities in spite of having only 2 commissioners. sec.gov/newsroom/press-releaā¦
Joseph Moore, a historian and author, in The Long View podcast.
ā The quality of a marriage is one of the strongest predictors of financial outcomes that we have. ā morningstar.com/podcasts/theā¦
Paul Samuelson (1915-2009):
ā Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. ā
In 2026, a lot of retail investors prefer going to Las Vegas without leaving home. bloomberg.com/news/articles/ā¦
Robin Wigglesworth:
ā A simple, systematic tilt towards riskier slices of the credit market ā and using Treasury futures to keep the duration exposure constant ā is probably the best-known dirty secret of the bond investment industry. ā ft.com/content/856aa6be-5543ā¦
Spencer Jakab:
ā The underlying funds differ, but the common theme of complex or active ETFs is a fast track to investing success. Donāt just look under the hoodācheck out the price tag. ā wsj.com/finance/investing/thā¦
Matt Levine on Anthropic's S-1:
ā The biggest risks in Anthropicās prospectus are not really risks to its business; they are risks that its business poses to everyone else. ā bloomberg.com/opinion/newsleā¦
ā Great, high-quality, winning companies can become overpriced. And in our āMagnificent Sevenā this time around, we do indeed have some great companies. ā albertbridgecapital.com/postā¦
ā AI will change what is scarce. It will not decide who captures that scarcity premium. ā rpc.cfainstitute.org/blogs/eā¦
Joe Wiggins:
ā The best way to predict what decisions will get made in almost any situation is to understand who holds the power and what they want. ā behaviouralinvestment.com/20ā¦
Robin Wigglesworth, author of A Fabulous Debt: The Epic Story of How Bonds Built the Modern World, is the guest of the MiB podcast hosted by Barry Ritholtz. The transcript is here. ritholtz.com/2026/10/transcrā¦
Alex Claringbull, global head of index investments at BlackRock:
ā I think there is interest in ex-hyperscaler exposure for fixed income. ā etfstream.com/articles/ai-meā¦
Ben Carlson:
ā Vanguardās first index fund had a sales load of 8.5%. ā awealthofcommonsense.com/202ā¦
