Diversification5 min read
The diversification you do not have
Thirty holdings can behave like one. Real diversification is measured in economic drivers, not line items.
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Insights
Notes on the long term
Writing from the investment desk. Practical, brief, and concerned with the decisions that compound rather than the ones that make headlines.
All insights
Long-term investing4 min read
Patience is a position
Doing nothing is an active decision with a cost and a rationale. It deserves to be underwritten like any other.
Market cycles5 min read
Reading a market cycle without predicting one
Naming the phase you are in is useful. Forecasting the next one is a different activity with a much worse record.
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Risk management4 min read
Risk is a budget, not a feeling
Volatility questionnaires measure mood. A risk budget measures what a specific decline would do to a specific plan.
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Investing psychology4 min read
The investor in the mirror
The largest recurring cost in most portfolios is not fees or tax. It is the gap between what the fund returned and what its investors did.
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Resilient portfolios5 min read
Building a portfolio that survives you
Resilience is not only about markets. A portfolio should remain manageable when the person who designed it is no longer the one managing it.
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These articles are fictional demo content written for this template. They are general commentary, not personalised financial advice, and they do not describe any real portfolio or performance record.
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