He does sound a little preachy sometimes but the underlying concepts/frameworks are coherent.
618 karma · joined March 13, 2019
Austin, TX, USA
He does sound a little preachy sometimes but the underlying concepts/frameworks are coherent.
Last 10 years comparison (VTI vs FNDB): https://www.portfoliovisualizer.com/backtest-portfolio?s=y&s...
In my case, after observing the Covid-19 craziness in market, I decided to dig further on value strategies and discovered this gem from Research Affiliates in Journal of Portfolio Management circa 2012, which completely convinced me on the concept of fundamental indexation as a superior alternative to market-cap weighted total market index.
Rebalancing and the value effect (JPM 2012): https://www.researchaffiliates.com/content/dam/ra/publicatio...
I came across Satnam Singh's work first while learning about the Lava language/framework for FPGAs, glad to discover his more recent work.
https://github.com/MikeCovrado/GettingVerilatorStartedWithUV...
It would be an amazing leap to enable UVM fully on Verilator. Looking forward to it.
This book covers wide ranging topics within investing, hedging, personal finance, lifecycle investing and asset pricing. One of the key ideas is recognizing comprehensively that investing and spending are both simultaneous goals of lifecycle investing. It is absolutely refreshing to see the basics of investing revisited in a theoretically sound & rigorous framework.
The authors run a wealth management firm, Elm Wealth.
Bogleheads Wiki: Getting Started
https://www.bogleheads.org/wiki/Getting_started
This wiki is one of the best resources in USA for simple, straightforward, no-nonsense personal finance strategy which has been battle-tested over multiple decades.
Also, there is a very insightful and concise personal finance course at Stanford:
CS007 Personal Finance for Engineers
The course notes/slides are very recently updated (Oct 2023)
TL;DR: Mostly the advice is to ignore the news, most of the information (including the news shown on CNBC) is already baked into the current prices (efficient markets). Stay the course!
https://dl.acm.org/doi/abs/10.1145/360018.360022
Their work on list processing was an inspiration for John McCarthy's famous paper on Lisp:
https://online.stanford.edu/courses/cs217-hardware-accelerat...
Course website with lecture notes: https://cs217.stanford.edu/
Reading list: https://cs217.stanford.edu/readings
Simple products do exist which provide exposure to passive indexes for India equities in USD. Any NRI in US can invest in these ETFs at reasonable cost (about 0.64%-0.85% Expense Ratio):
1) iShares MSCI India index ETF - $INDA (USD) : https://www.ishares.com/us/products/239659/ishares-msci-indi...
2) Wisdomtree India Earnings ETF - $EPI (USD) : https://www.wisdomtree.com/investments/etfs/equity/epi
This forum increased my financial literacy by an order of magnitude.
https://www.bogleheads.org/forum/viewforum.php?f=22
2) Rational Reminder forum is general equity investing forum similar to Bogleheads and many of the active participants are Europe residents:
https://amturing.acm.org/award_winners/simon_1031467.cfm
Herbert Simon later went on to win the Nobel Prize in Economics for his contributions on "Bounded Rationality" in decision making.
https://www.nobelprize.org/prizes/economic-sciences/1978/sim...
Checkout this article for details: https://blog.pragmaticengineer.com/software-engineering-sala...
1) Bogleheads Forum (Personal Finance & Investing)
2) Rational Reminder Community (Investing)
https://www.amazon.com/Four-Pillars-Investing-Building-Portf...
For learning how financial world really works, Burton Malkiel's A Random Walk Down Wall Street is absolutely phenomenal.
1) Rational Reminder (Ben Felix & Cameron Passmore) : This is hands down the best in equity investing (start with Nobel Prize winner Eugene Fama in Episode 200)
2) Flirting With Models (Corey Hoffstein) : Deep dives with guests on Factor investing and quantitative finance in general
3) Bogleheads on Investing (Rick Ferri) : Discussion on advanced investing topics from a individual investor perspective (also covers financial planning topics)
I noticed lack of below asset classes in the list:
1) US Small Cap Stocks (e.g. Russell 2000 Index) 2) International Large Cap Stocks (MSCI EAFE Index) 3) International Small Cap Stocks (MSCI EAFE Index) 4) Emerging Market Large Cap Stocks (MSCI Emerging Markets Index)
Adding these would greatly improve the optimizer.
Don't remember the source of this insight, it is often used in context of evolutionary adaptation in biology. This encompasses every activity in day-to-day life.
A good collection of his quotes over time : https://25iq.com/quotations/charlie-munger/