As Greg Zuckerman noted in The Man Who Solved the Market, Renaissance’s flagship Medallion Fund generated 66% annualized returns (before fees) and 39% annualized returns (net of fees) from 1988-2018. To put this performance in perspective, $1 invested in the Medallion Fund from 1988-2018 would have grown to over $20,000 (net of fees) while $1 invested…
With the NASDAQ 100 seemingly off the boil at just over 14,000, it seems as if every market pundit on social media has delved into their bag of magical technical analysis tools to see if they can see the bottom. I have to admit I find such tools to be a somewhat mixed bag of…
The chart below popped up on one of my feeds this morning and I have to admit I am confused as to the message it is trying to convey. The theme is that CROX has made one of the great comebacks in the history of the universe. However, there is always more than one way…
The other afternoon, in an effort to avoid doing my work, I picked up Henry David Thoreau’s Walden. It turned out to be a fitting choice, as Thoreau has quite a bit to say about wasting time. “The cost of a thing,” he wrote in Walden, “is the amount of what I will call life which is required…
If you have ever wondered why the NBN rollout consigns us to internet speeds that are slower than that of the economic powerhouse of Trinidad and Tobago or why our vaccine rollout resembles a fire in a chook shed then look no further than our ranking in the following league table of sovereign wealth funds.…
One of the things that intrigues me about the finance industry is that people don’t seem to fully think through the implications of the statements they make. For example, someone popped up on my LinkedIn profile yesterday claiming that their people were making 10%pm using a given platform. There are several things that are interesting…
Abstract In this paper I report the discovery of neurons which showed a neural correlate with ongoing fluctuations of Bitcoin and Ethereum prices at the time of the recording. I used the publicly available dataset of Neuropixel recordings by the Allen Institute to correlate the firing rate of single neurons with cryptocurrency price. Out of…
For generations, the standard way to learn how to ride a bicycle was with training wheels or a tricycle. But in recent years, many parents have opted to train their kids with balance bikes, pedalless two-wheelers that enable children to develop the coordination needed for bicycling—a skill that is not as easily acquired with an extra…
One of the things that is always interesting about financial markets is the role that hyperbole plays in people’s decision making. For example, my LinkedIn page is for some reason littered with people who are obsessed with gold and this is a topic I have touched on before. For many investors, their decisions are based…
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