The Challenge of Individual Stocks

On a recent visit to the Museum of Modern Art (MoMA), I surprisingly stumbled upon an exhibit featuring classic video games such as Tetris, Asteroids, and Pac-Man.  The games were displayed on active video screens with an adjacent explanation of the creativeness or design elegance for why they were each chosen. In their heyday, these [...]

Ancient Greek Heroes, Lotteries, Homer Simpson, and Investment Discipline

The following is an excerpt from the quarterly letter we sent to clients.   We are an overconfident species.  93% of us believe we are above average drivers, 86% of us believe we are better looking than the average person, and 80% of us think we’re smarter than average.  We are convinced that we know more [...]

Go to Top