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Interest rates have been on a secular decline since the 13th century. Higher rates in the late 70s/80s was just a blip.

Journal of portfolio management Journal of financial economics Journal of financial analysts

What are you trying to accomplish? Big tiers are 120k for portfolio margin, 1MM for prime, and 120mm for qib

One of their plants was shut down temporarily and won’t be fixed until early next year. This will impact production this quarter, but should resume next quarter.

If a stock price = metric x multiple, what are the time varying characteristics of those two factors through your period? From a relative standpoint, how do equities look as compared to other asset classes (namely fixed income)?

Data not anecdote please

You caught me :(

Goes to show how challenging is the current environment is even for the better managers. Did you read his book?

Bond fund navs move inversely with yields, like a bond would, but you are passively exposed to duration and such.

tips yields are negative...not sure if you'd want to be a buyer at these prices

Trading is more like a sport and less like academics. In school, you can get an A+ on every paper or homework assignment you do. In sports, every team has wins and losses, but the best teams learn from their mistakes, are adaptive, and have the resilience to persevere.

Cathie is an example of why long/short is superior to long-only. If she added shorts to her mandates and the flexibility that comes with it, I would not be surprised if she did much better. However, she's managing $20b+ which is a lot more than most hedge funds lol.

screenshot shows the average "yield to worst" ("YTW") of each type of credit rating (from AAA to BAA), excluding high yield/distressed. Should give you and your friend a sense as to what rates look like and what to expect from a laddered bond portfolio from a credit risk standpoint.

I'd suggest a laddered bond portfolio, he can talk to a fixed income specialist at his broker to set one up. Idea is to limit duration in the portfolio with the assumption that interest rates will be higher in the future. Basic idea is that you take money and split it up across various years...

Time horizon?

Great video thanks for the share. I’m actually not a fan of IBKRs smart routing myself but agree that it’s an improvement over pfof type of arrangements (it’s good for the small trader/investor). If you think about the flow of a trade: Person buys stock —> sends order to broker —> broker EMS...

Actually there’s already a bit of an ecosystem for sat phones, which could make a Tesla venture interesting. However, I don’t think it makes sense for Tesla to launch a phone — they should launch a chip (to access sat network) and a service (compete with ISP and telecom).

Lol every educator and guru is a fake. I extend this to the academic world too, though at least if you took a class on investing you would learn important facts about the markets and how to analyze it. The worst part of these online educators and gurus is that they preach a story about trading...

lol I used to read nietzche to flirt with girls.

trading your 401k = not great strategy. Keep it invested in sectors you think will see the greatest growth between now and retirement.