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10 Biggest Ideas in “How NOT to Invest”

The Big Picture

The challenge in writing How NOT to Invest was organizing a large number of ideas, many of which were only loosely connected, into something coherent, understandable, and, most importantly, readable. That insight greatly simplified my task of making the book both fun to read and helpful for anyone interested in investing.

Investing 317
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Avoid the Unforced Investment Errors Even Billionaires Make

The Big Picture

In How Not to Invest , I showcase extreme examples of unforced errors to illustrate these behavioral mistakes. Chris Bloomstran, chief investment officer of Semper Augustus Investments Group, has tracked this. Decades as an investor and trader on Wall Street have taught me that panics come and go.

Investing 267
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Podcast links: hedge fund math

Abnormal Returns

morningstar.com) Jack Forehand and Matt Zeigler talk with Michael Mauboussin about nine key, timeless investing lessons. youtube.com) Michael Batnick and Ben Carlson talk with Ted Seides author of "Private Equity Deals: Lessons in investing, dealmaking, and operations from private equity professionals."

Math 276
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Research links: more than math

Abnormal Returns

Skew Why investors avoid positive-skew investment strategies. noahpinion.blog) Asset growth High investment has historically led to disappointing future returns. morningstar.com) Research The 2025 Global Investment Yearbook is here. rcmalternatives.com) How skew and kurtosis should play a role in portfolio construction.

Math 147
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Dollars Are For Spending & Investing, Not Saving

The Big Picture

“I need the US Dollar to be a store of value between the time I make it until I spend it, invest it, pay my taxes with it, or give it away. To be more precise, I want to discuss the type of chart that reflects a fundamental misunderstanding of the nature of money, currency, spending, investing, and taxes. It does that splendidly.”

Investing 340
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Investing a Lump Sum at All-Time Highs

A Wealth of Common Sense

A reader asks: I recently sold my condo for $400k and want to invest the money in the stock market. Should I invest elsewhere or wait for a market correction? Let’s start with the math first and then work our way to the psychological ramifications. However, it appears the market is at an all time high. Excellent question.

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Top clicks this week on Abnormal Returns

Abnormal Returns

(newsletter.abnormalreturns.com) Top clicks this week Don't mix politics and investing. awealthofcommonsense.com) Compounding math is often confounding. klementoninvesting.substack.com) Does it matter if the stock market actually falls 20%? tker.co) How geopolitical conflicts have played out for stocks. How to sidestep it.

Math 162