Michael Mauboussin on Common Behavioral Biases in Investing and AI-Aided Countermeasures h/t AInvestor

Love this checklist, it reduces the investment process down to its simple, core concepts. Save for later.

The Tao Te Ching is a Chinese philosophy book written c.2500 years ago; I think it should be compulsory reading. If this passage was pinned above everyone desks, we’d live in a much less turbulent system. But thanks to the affinity between capitalism’s incentives and kicking

Last May, we were on the verge of breaching 250 posts since we started the S-Stack early January 2024. We’re now at 256 blogs, webinars, earnings recaps, and deep dives. A compilation of our 25 most-read articles are now available in a separate blog

Take a few minutes from your day to listen to Howard Marks discussing risk; It’ll be worth your time, I guarantee it. Full video: youtube.com/watch?v=WXQBUS…

A fascinating value investing syllabus taught by Greenwald, Santos, and Eveillard. Loads to take away into our own investment self-education.

I’ve run over 100,000 backtests. The biggest surprise? How quickly the rules investors repeat to each other collapse when you actually test them. Here’s what holds up across Compustat, FactSet, and Refinitiv data: • Sell losers faster than winners • Higher turnover is an

On streaks: preparation, probability, and skill By Michael Mauboussin

Six Ways Companies Mismanage Risk

Applying science to the art of investing Great piece

Buybacks as a method of signalling undervaluation are no longer what they once were. This ‘signalling theory’ of undervaluation does however have a few scenarios where it remains true. Knowing the difference between a good and a bad buyback allows you to distinguish between