I have worked in the investment industry a long time and one of the biggest changes has been the massive increase in the quantity of investment information. Observations is not about creating one more fire hose of information, but rather about sorting out what is really important, making sense of many conflicting signals, and putting everything into perspective. In doing this, I describe news stories in the context of bodies of financial knowledge, my studies of financial history, and over thirty years of investment experience.
I have also designed Observations to be an independent voice with a balanced perspective. I strive to focus on issues that are important but often underappreciated for long-term investors. Whether it be through market observations, new research, interesting thought experiments, fresh insights, or nuggets of wisdom, Observations helps inform investment decisions and characterize risk. Think of it as being led through a fascinating yet curious landscape by an experienced and knowledgeable tour guide.
Principles for Areté’s Observations
All the research I reference is curated in the sense that it comes from what I consider to be reliable sources and to provide meaningful contributions to understanding what is going on. The goal here is to figure things out, not to advocate.
One objective is to simply share some of the interesting tidbits of information that I come across every day from reading and doing research. Many of these do not make big headlines individually, but often shed light on something important.
One of the big problems with investing is that most investment theses are one-sided. This creates a number of problems for investors trying to make good decisions. Whenever there are multiple sides to an issue, I try to present each side with its pros and cons, as well as to express my opinion as to which side I believe has the stronger case, and why.
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