Money and Finance
From Seth Klarman:
- Pershing Square Q2 Letter
Link to: Pershing Square Q2 Letter Pershing Square – Reflections After Ten Years We began investing capital January 1st, 2004 in partnership with a subsidiary of Leucadia National Corp. (NYSE:LUK) which invested $50 million in Pershing Square, L.P....
- Buffett Widens Lead In $1 Million Hedge Fund Bet
Link to: Buffett widens lead in $1 million hedge fund betFORTUNE -- Results are in for the sixth year of the competition sometimes called the $1 million bet, and Warren Buffett -- once a piteous straggler in this 10-year wager on stock market performance...
- Nate Silver: Confidence Kills Predictions
Found via Abnormal Returns. IU: How do you invest your own money? Silver: I’m actually a rather dull and conservative investor for the most part—I mostly just invest in index funds or mutual funds with low fees. One thing I know about the market...
- The Dividend-fund Dilemma - By Jason Zweig
Sooner or later, the markets always punish investors who do the right thing for the wrong reason. Some investors in dividend-oriented stock funds might end up learning that lesson the hard way. So far this year, $9 billion has gone into mutual funds and...
- Investing In Actively Managed Funds
I've been reading a couple of Finance blogs mostly by Singaporeans, and I noticed that one of them (name shall not be mentioned) has chosen to invest with OCBC Blue Chip Investment Plan (BCIP) I did also talk about OCBC BCIP on a previous blogpost, http://teenageinvesting.blogspot.sg/2014/08/the-beginning-of-your-investment.html...
Money and Finance
If investors could know only one thing about greed and fear...
From Seth Klarman:
Fear of missing out, of course, is not fear at all but unbridled greed. The key is to hold your emotions in check with reason, something few are able to do. The markets are often a tease, falsely reinforcing one’s confidence as prices rise, and undermining it as they fall. Pundits often speak of the psychology of markets, but in investing it is one’s own psychology that can be most dangerous and tenuous.
If investors could know only one thing about greed and fear, they should know this: Over the 30-year period from 1984 to 2013, the Standard & Poor’s 500 Index returned an annualized 11.1%. Yet according to Ashvin Chhabra, head of Euclidean Capital and author of “The Aspirational Investor,” the average returns earned by investors in equity mutual funds over the same period was “a paltry 3.7% per year, about one-third of the index return.” Bond fund investors fared even worse: while the Barclays Aggregate Bond Index returned an annualized 7.7%, investors in these funds “captured just 0.7% (not a misprint!) in annualized returns… That staggering underperformance is the cost that individual investors paid for following their instincts” by adding to and pulling money out of their funds at precisely the wrong times. In short, retail investors, in aggregate, substantially underperformed both the markets and the very funds in which they were invested.
- Pershing Square Q2 Letter
Link to: Pershing Square Q2 Letter Pershing Square – Reflections After Ten Years We began investing capital January 1st, 2004 in partnership with a subsidiary of Leucadia National Corp. (NYSE:LUK) which invested $50 million in Pershing Square, L.P....
- Buffett Widens Lead In $1 Million Hedge Fund Bet
Link to: Buffett widens lead in $1 million hedge fund betFORTUNE -- Results are in for the sixth year of the competition sometimes called the $1 million bet, and Warren Buffett -- once a piteous straggler in this 10-year wager on stock market performance...
- Nate Silver: Confidence Kills Predictions
Found via Abnormal Returns. IU: How do you invest your own money? Silver: I’m actually a rather dull and conservative investor for the most part—I mostly just invest in index funds or mutual funds with low fees. One thing I know about the market...
- The Dividend-fund Dilemma - By Jason Zweig
Sooner or later, the markets always punish investors who do the right thing for the wrong reason. Some investors in dividend-oriented stock funds might end up learning that lesson the hard way. So far this year, $9 billion has gone into mutual funds and...
- Investing In Actively Managed Funds
I've been reading a couple of Finance blogs mostly by Singaporeans, and I noticed that one of them (name shall not be mentioned) has chosen to invest with OCBC Blue Chip Investment Plan (BCIP) I did also talk about OCBC BCIP on a previous blogpost, http://teenageinvesting.blogspot.sg/2014/08/the-beginning-of-your-investment.html...