Some videos that I recommend, if, like me, you're a little too tubby:
Beware of the carbs:
Beware of fructose:
Be healthy, be happy.
The delusion...Value Investing
- Why it's the best long term investing strategy. Why most investors don't have what it takes. Why and how individual investors can outperform most fund managers, and why some fund managers are worth reviewing
Other stuff
- What is money, where did it come from, and where is it going? Some tax effective investment structures. The Australian Property Bubble. How investing, insurance, gambling, betting are all the same thing..
Gold Symposium Panel Questions
Earlier this week, I attended the Gold Symposium in Luna Park in Sydney. All in all, it was a great couple of days, with great keynote speakers. The final session was Q&A with a panel that included Eric Sprott, John Embry, Ben Davies and Egon von Greyerz. Anyway, there were a couple a questions that were posed to the panel that I don't think they did a great job of answering, and with the benefit of contemplation time, and a text editor, I'd thought I'd give them a shot.
Question 1: If I had invested 1 ounce of gold into the equity market 100 years ago, today it would be worth 1400 ounces (or whatever), yet if I had kept it as gold, it would still only be 1 ounce. So, why should I buy physical gold?
My answer to this is three fold:
Question 1: If I had invested 1 ounce of gold into the equity market 100 years ago, today it would be worth 1400 ounces (or whatever), yet if I had kept it as gold, it would still only be 1 ounce. So, why should I buy physical gold?
My answer to this is three fold:
Labels:
gold
Money Money Money
If you don't already read and follow FOFOA, you should. He's written a great article on Money.
What I learnt:
What I learnt:
- It is important to consider the functions of money separately. Specifically, that the "unit of measure" can be anything, eg, we could prices things (everything) in units (eg. "Man-days work", Bit Coins, 0-10) irrespective of the transactional currency (eg. AUD, cigarettes) and the store of wealth (works of art, houses).
- Base (government) money, is not the same as credit (bank) money. Base money is the "unit of measure", or the yard stick, or the zero to ten system of pricing things. Changing the amount of base money is different to changing the amount credit money.
- MMT is NQR. Sectoral balance sectoral shmalance.
- Government spending is the main problem. (D'uh!)
- USA is headed for hyper-inflation.
- Gold is the place to be.
Labels:
money
Fooled by randomness
As I have briefly mentioned before, I have just finished reading Fooled by Randomness, by Nassim Taleb.
Taleb's take on the investing world is that in the spectrum of skill verses luck, many people attribute the success of successful traders, including the traders themselves, down to skill, whereas Taleb mostly attributes it to luck. Even if the traders have demonstrated "long running" success, Taleb attributes this to survivorship bias rather than skill. He believes that many traders essentially follow a well masked "increase risk until you blow up" strategy, he says that it's only a matter of time until they actually blow up, and there is no point praising those that are yet reach that point.
Taleb's take on the investing world is that in the spectrum of skill verses luck, many people attribute the success of successful traders, including the traders themselves, down to skill, whereas Taleb mostly attributes it to luck. Even if the traders have demonstrated "long running" success, Taleb attributes this to survivorship bias rather than skill. He believes that many traders essentially follow a well masked "increase risk until you blow up" strategy, he says that it's only a matter of time until they actually blow up, and there is no point praising those that are yet reach that point.
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