- The Idea Farm
- Posts
- Crypto Craziness
Crypto Craziness
Richard Ennis, Benedict Evans, Cliff Asness, 7-Eleven, Victor Haghani & More
The Idea Farm
December 15, 2024
Together With
“Never bet on the end of the world, because it only happens once.”
Research
UBS - How we cover equities (11 pages)
UBS Global Equities CIO Ulrike Hoffmann-Burchardi walks through the three lenses she uses to invest: 1) macro, 2) micro (including company specific drivers), 3) transformational (structural changes).
As of October 17, 2024
Robeco - The Risk and Reward of Investing (44 pages)
By looking at the $150 trillion "global market portfolio," which represents the aggregate investor in financial markets, the authors are able to estimate the historical risks and rewards of investing.
Source: Doeswijk, Swinkels. As of October 28, 2024
Pairing trend-following with long-short quality strategies can help protect a portfolio against sudden market volatility, addressing the challenges of relying on trend-following alone.
Vanguard's report outlines key considerations for active fund investing, emphasizing factors like costs, manager skill, and investor discipline in achieving successful active management outcomes.
2
Notes: The chart shows the distribution of annualized returns for stock constituents of the Russell 3000 Index in U.S. dollars as of January 31, 2014. The performance shown is for January 1, 2014, through December 31, 2023, with reinvestment of all dividends. Overlaid is the index’s total return performance for the same period. Past performance is no guarantee of future results. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index. The Russell 3000 is a broad equity index composed of the 3,000 largest U.S. listed stocks. Sources: Vanguard calculations, based on data from Rimes.
Bonus Content
Richard Ennis explains why elite endowments are falling behind and possible solutions for their problems. Link
Tom Whitwell published his annual list of 52 things he learned in 2024. Link
Each year, Benedict Evans does a presentation about key trends in the tech industry. This year's title is ‘AI eats the world.’ Link
Cliff Asness gives his take on value and small-cap stocks, US tax policy, AI and more. Link
Forbes wrote about the current stage of the crypto cycle, noting nearly 13 millions different meme coins have been created in 2024 with combined value of $100 billion. Link
Join a Community of Sophisticated Investors from Industry-Leading Firms
10 East, led by Michael Leffell, allows qualified individuals to invest alongside private market veterans in vetted deals across private credit, real estate, niche venture/private equity, and other one-off investments that aren’t typically available through traditional channels.
Benefits of 10 East membership include:
Flexibility – members have full discretion over whether to invest on an offering-by-offering basis.
Alignment – principals commit material personal capital to every offering.
Institutional resources – a dedicated investment team that sources, monitors, and diligences each offering.
Interested investors are encouraged to inquire for membership to unlock 10 East’s detailed track record and upcoming deal flow.
Join with complimentary access at 10east.co
Podcasts
 9/18/24 - 19 minutes | The FT looks at whether the 7-Eleven takeover is a signal that companies in Japan are now considering foreign acquisitions and the implications on corporate Japan’s future. |
 10/23/24 - 75 minutes | In his first podcast episode ever, Eckhardt shares his journey from the renowned Turtle trading experiment to his current systematic trading strategies at Eckhardt Trading Company. |
 12/5/24 - 85 minutes | Haghani discusses how much risk an investor should take to safely grow their wealth, how much of a good thing is too much and what is going on with the leveraged MicroStrategy ETFs. |
What Else Is Happening
Meb Faber spoke with Robeco's Matthias Hanauer about the value factor and the impact of AI & machine learning on finance. Apple | Spotify | YouTube
Did you miss last week’s email?
Conquer Winter in Style: Best Men’s Sneakers from Nike Air Max.
Winter is here, and it’s time to elevate your look while staying warm and comfortable. The Nike Air Max collection is perfect for the modern man ready to tackle the season. From the edgy Air Max Plus to the versatile AM1, these sneakers combine style with features designed to keep your feet happy all winter long.
Whether you're tackling holiday shopping or celebrating with friends, these kicks are your perfect companion. Find your ideal pair and effortlessly elevate your winter wardrobe this season.
Treat yourself or a loved one to a stylish pair from the collection this holiday season.