Machine learning - what it is and is not for investors

I have been seeing more managers use machine learning tools to help with the investment process. This is an important advancement and will b...

Know your data, the fundamentals of analysis

Thanks to Ben Hunt's newest monetary letter, I pulled out my vintage copies of work by Ed Tufte, the visible information extraordinaire....

Perils of perception - the reality is that we get a lot wrong

The key issue with any expectations market is that investors are often driven by what is perceived and not what is true. The misperceptions ...

Sentiment-driven market behavior - feedback or snap-back?

I believe that to a large extent, herding is at play. If other investors sell, it must be because they know something you do not know. Thus,...

The large market dislocations of 2015 - who said the year was uneventful

The year was filled with surprises and big divergences, but most of them were policy-made and highly unpredictable. This is a small table hi...

The big market divergences of 2015

The framework of convergence and divergence is useful to describe markets and hedge fund styles. With this framework, we can focus on the bi...