Remember, back in 2009, when Phil Falcone’s personal accountants realized that the hedge fund manager […]
6 December 2012. Do you know the significance of this date? It was the day “an MBA holder, active MENSA member, alumnus from both the ‘best public high school in the USA’ according to the Wall Street Journal and the best private high school (Philips Academy Andover) in America” was treated “in a manner [considered] highly offensive and unusual in ANY* Western nation,” by a HR representative of a firm from which he was seeking employment. And although said “MBA holder, active MENSA member, alumnus from both the ‘best public high school in the USA’ according to the Wall Street Journal and the best private high school (Philips Academy Andover) in America” was already informed that he was unqualified for the job he’d applied for, a 1,057 word email detailing his experience and informing the company that he was calling shotgun on rejecting them, plus a threat, nay, a promise to go public with his grievances, seemed in order.
The more frequently you monitor your portfolio, the more likely you are to observe a loss.
This is likely to cause short-sighted decisions and could hurt your investment performance.
If you are checking your portfolio more than once per quarter, you’re doing it too much.
Click to read more.
Dan Egan, Betterment Director of Behavioral Finance and Investing
Something you may or may not know about Cliff Asness is that by day, he is a hedge fund manager but by night he is the second coming of his hero, Captain America. Like the Captain, the AQR founder believes his duty is to defend America, only instead of fighting Axis Powers, Asness’s enemies are liberal Commie Socialists hell-bent on destroying this country. Because his shield has been in the shop for repairs for the past couple years, Cliff has been forced to use other weapons to pummel his foes, namely writing amazingly witty1 emails to his friends and colleagues about how much Obama et al suck. Most recently, Captain Asness circulated “Some Useful Definitions to Understand Our Modern Progressive World,” a little glossary of unalphabetized terms he put together sure to cut his adversaries deeply. (The Captain also helpfully pointed out in a footnote that many of the definitions were “written sarcastically as a faux left-winger, [while] some [are] just conservative/libertarian interpretations of what the left really means,” in case that was lost on his audience.) They include:
– The 1%
Definition: Those who pay more than 1/3 the total federal income tax and are never thanked for it. More generally, they are responsible for all evil in the world today (unless they work in Hollywood or hitech in which case they are “honorary 99%-ers” regardless of income, tax rate, and lifestyle).
– Cash for Clunkers
Definition: What we came up to replace World War II as stimulus. Many perfectly good cars destroyed, no Nazis defeated.
Definition: A more extreme form of “entitlement” defined above. Note that modern usage throws out
the long tradition of natural rights only of a negative nature, that is, the right not to have something
done to you, for rights of a positive nature, that is, the right to certain goods and services, like health
care, Apple products, and soy milk. Since, no matter how important these items are, these modern
positive rights must still be produced and taken from others, essentially the word “rights” now often
stands for a system of slavery and theft.2
Some Useful Definitions [PDF]