A Trivia Lover’s Delight

A Trivia Lover’s Delight

The pandemic era continues to be a market trivia lover's delight. Seemingly every week we get a new "since" or "only" moment. For example, after last week, big-cap US tech is averaging a +/- 1.5% close-to-close daily move for December (figure below). That's only occurred in five Decembers since 2000. Tech is being pulled this way and that by the ebb and flow of the macro, Fed communications, hedging dynamics and idiosyncratic news, as well as concerns about valuations and sensitivity to bond v
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6 thoughts on “A Trivia Lover’s Delight

  1. I took the news that you were long crypto in stride, but learning that you’re long “shiny metal doorstops” (to quote a pundit who shall remain nameless) is giving me major cognitive dissonance.

      1. I’d like to push back on that. I’m not sure Gold improve any metrics in a portfolio… I think direct real estate exposure has, fairly correctly, become a substitute for both bonds and ‘safety’/inflation hedges (just don’t invest for cap gains, invest solely for the cash flows). I say ‘direct’ rather REITs b/c REITs tend to correlate with equity…

        Now most people can’t have a diversified portfolio of direct real estate (too expensive even if you’re just doing resi. let alone if you add commercial/industrial assets) but if you have a sizeable portfolio to manage…

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