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Photo by Jamie Street on Unsplash

And What I’m Doing In My Portfolio

(Not intended to be investment advice)

What a week. The ebullient markets of just a week or two ago now seem like a distant memory. The stock market is volatile and scary again and everything seems to be going down.

But it’s also important to keep things in perspective — despite all the turbulence, markets are just a bit off their all-time highs.


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Photo by Wayne Low on Unsplash

The Frenzy For Collectibles Has Hit An Insane Level

Back when I was a kid, I played the card game Magic The Gathering for a while. I begged and clamored for cards for Christmas and birthdays and was able to collect a few rare ones from the older sets like beta and unlimited. A few years ago, I gifted my entire collection to my cousin without thinking too much about it. I figured I was giving away at most a card collection worth $700 or so.

Boy was I wrong. I was listening to a podcast today on the speculative fervor that’s taken hold of the collectibles market today…


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Photo by Luke Southern on Unsplash

I enjoyed this piece by Melinda Blau. In it, she writes thoughtfully and introspectively about her transition from traditional media to the current writing world. At some point, I’ll probably write a longer piece about the commoditization and aggregation of content, including written content. Over the past two decades, we’ve moved from a world of premium and highly curated content along with limited distribution (magazines, newspapers, etc.) to one where content is seemingly generated by everyone (thanks to the Internet’s ability to distribute virtually for free).

In this aggregator’s world, the ones like Medium who own the eyeballs are king…


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Photo by AbsolutVision on Unsplash

It’s About Relative Returns, Not Absolute Ones

Currently, TIPS (Treasury Inflation Protected Securities) investors are paying dearly to protect themselves from inflation. In order to keep up with CPI, an investor in 5 year TIPS chooses to earn a whopping -1.74% annualized real return over the next 5 years.


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Photo by Chris Liverani on Unsplash

A Detailed Reading Of Jeremy Grantham’s Bubble Call

(Not intended to be investment advice)

A few weeks ago, I posted a link to legendary value investor Jeremy Grantham’s article about the current market environment. Mr. Grantham’s article is so great and courageous that it deserves a second and more in depth post.

The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000. …

Tony Yiu

Data Science @Solovis, Doing my Best to Explain Data Science and Finance in Plain English. Follow my publication at: https://medium.com/alpha-beta-blog

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