Investing at All-Time Highs

Together With

When you feel like bragging, it's probably time to sell.

— John Neff


Kai Wu explains why factor investing offers a useful tool to navigate the altcoin ecosystem and build more diversified crypto portfolios. He also gets into the evidence of a return premium in the four factors highlighted below.

This makes the case for mid cap stocks based on their higher quality and liquidity than small caps, along with greater growth potential and lesser concentration of returns than large caps.

Source: Mawer Investment Management Ltd. and FactSet. As of September 30, 2023. Small cap by the Russell 2000 Index, mid cap by the Russell Midcap Index, and large cap by the S&P 500 Index.

Bonus Content

Is it a good time to invest when stocks are at all-time highs? No. It’s a great time. Link

Tech analyst Benedict Evan’s publishes a presentation exploring macro and strategic trends in the tech industry every year. For 2024, it’s titled ‘AI, and everything else’. Link

Drew Dickson wrote about the relationship between share prices and business fundamentals. Link

Cowboy Ventures’ Aileen Lee coined the term “unicorn” over a decade ago. This piece analyzes the 532 companies in the 2023 Unicorn Club. Link

Is it true that when the U.S. sneezes the rest of the world catches a cold? Link

Where Sophisticated Investors Access Private Markets

10 East is a co-investment platform where sophisticated investors access private market investments alongside a veteran team with a decade+ track record of strong performance. The firm is led by Michael Leffell, former Deputy Executive Managing Member of Davidson Kempner.

Members have the flexibility to participate on a deal-by-deal basis across private equity, credit, real estate, and venture capital.

 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 and diligences each offering. 

There are no upfront costs or commitments associated with signing up and checking out the platform.

Idea Farm readers can join 10 East with complimentary access here.


2/17/2024 - 90 minutes

David Weisburd, Mark Suster, Samir Kaji & Jason Calacanis discuss the 2024 venture market, selling secondaries, IPOs in 2024, & more.

2/23/2024 - 52 minutes

Morgan Stanley’s Mike Wilson talks about Nvidia & AI, finding relative value, similarities to the late 1990s and more.

2/17/24 - 115 minutes

Fairholme Fund’s Bruce Berkowitz talks about how he changed his investment strategy during his career, why he thinks of cash as “financial valium” & why 80% of his fund is in one stock.

What Else Is Happening

Deal of the Week

YCharts just launched their latest resource outlet: The Advisor Pulse. This LinkedIn Newsletter is your direct line to staying ahead of the curve on crucial market and economic trends, complete with actionable insights to share with your clients.

Subscribe to The Advisor Pulse.