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Investing

Investing

Asset prices, valuation, portfolio reasoning, and where financial theory breaks down

Klement on Investing
Story-telling animalsEven when investors learn that an analyst's comment was about a different company, a false story still shifts their view of the original stock, revealing that humans are storytelling animals and that debunking cannot fully erase the damage.
Klement on Investing
Klement on Investing
The performance decay of LLM trading strategiesLLM trading strategies excel in backtests within their training data window but suffer sharp performance drops out-of-sample, exposing a serious overfitting problem.
Klement on Investing
硅谷居士
我为什么喜欢先锋集团？Vanguard's unique ownership structure (customers as shareholders) lets it keep fees perpetually low, which is the real reason it beats rivals.
硅谷居士
Klement on Investing
Higher deficits cause inflationHigher budget deficits push up inflation faster than most people think, because markets price in the effect in real time — a kind of backdoor default.
Klement on Investing
Of Dollars And Data
Why I Was Wrong to Be Bearish on U.S. StocksThe author admits his bearish call on U.S. stocks a year ago was wrong, and reflects on overfitting market signals, ignoring data corrections, and forgetting to respect the base rate that stocks tend to rise.
Of Dollars And Data
硅谷居士
我的博客如何改变了一个人的命运？A reader in Japan, frightened of stocks, changed his investing fate after reading Silicon Valley Jushi's blog about index investing.
硅谷居士

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