Reading List

Prolific poster Felix Salmon has a good piece here on asset allocation. He also talks about correlation risk and the difficulties of correlation measurement. He writes: Ultimately, I suspect that any investment strategy more sophisticated than “buy low, sell high” is doomed to fail eventually. Good to see that the Margin of Safety thesis is still popular.

Robert Shiller (of Yale, who else?) is interviewed here. Well worth a watch - too many themes to list here.

Lundeen's Bear Market Race to the Bottom continues with his latest release. If you're starting to feel bullish, Lundeen will cool you off.

And for those interested in NZ, it looks like the PM is intending to streamline the tax system. It also looks like there will be a policy shift ahead to encourage productive investment - this should help kill NZ retail investors' addiction to buy-to-let housing.