ReadingList Stats

Total Count: 672942

Page Views: 1633

Work in the invisible world at least as hard as you do in the visible.


Graphic retired at the end of 2013

Encyclopedia of the Exquisite by Jessica Kerwin Jenkins

The central idea behind the Encyclopedia, she explains, is that with searching, beauty can be found in the most unlikely places, that folly is essential, and that luxury doesn’t mean spending lots of money. link to author's website

Image source:

The category Wanderers contains the following quotation from Freya Stark, Baghdad Sketches: To awaken quite alone in a strange town is one of the pleasant sensations in the world. You are surrounded by adventure. You have no idea what is in store for you, but you will, if you are wise and know the art of travel, let yourself go on the stream of the unknown and accept whatever comes in the spirit in which the gods may offer it. (see on pg 10 in Google Books)

Mutual fund industry quotes from Don Phillips of Morningstar

From Barron's 1/6/2014 ... in 1986 the mutual fund industry had assets = $715 billion. Contrast that to today with $16.4 trillion which includes ETF's which didn't exist 18 years ago.

  • You have lower prices, more choices, better stewardship, and more transparency. There has never been a better time to be a fund investor. The tools are unparalleled; they are better than what the top institutional investors had a decade ago.
  • investors get how important costs are. They've become the No. 1 screening factor ...

Dimensional Fund Advisor's notes on methodology

From Barron's 1/6/2014 ...

  • Fama-French three factor model (1992)
    • Capital-asset pricing model (CAPM)
    • small stocks
    • value stocks
  • revisions to the model
    • momentum
    • profitability
    • see Nov 2013 draft of A Five-Factor Asset Pricing Model Abstract: A five-factor model directed at capturing the size, value, profitability, and investment patterns in average stock returns is rejected on the GRS test, but for applied purposes it provides an acceptable description of average returns. The model’s main problem is its failure to explain the low average returns on small stocks that invest a lot despite low profitability. The performance of the model is not sensitive to the specifics of the way its factors are defined, at least for the definitions considered here.
    • see also Rick Ferri's excellent blog post on The Five Dimensions of Risk (from July 23, 2012).

See Bogelheads for a description of the three factor model with the Morningstar style box. Also three factor model analysis. Frank Armstrong, of late 1990s internet fame for his online book of efficient portfolio investing, had a recent Forbes column (2013)

Other investment ideas

  • And for a general "be disciplined" message from Rick Ferri in Forbes: Three Keys to Greater Wealth (July 2012)
    1. philosophy - deep belief about investing in the markets (long term investment philosophy)
    2. strategy - how to implement your beliefs (create a strategy)
    3. discipline - is the process of sticking to the strategy (get invested, stay invested, and be disciplined)
  • Asset Allocation by Rick Ferri has some interesting graphs that provide a comparison between decades for what can actually happen with asset allocation. The message here is that asset allocation works in the LT, and sometimes the ST may totally scare out some investors, i.e. market downturn of 2008.
    1. Asset Allocation Basics for Investors (Part 1 of 2)
    2. Basics of Asset Allocation (Part 2 of 2)
  • Rick Ferri - Tips on TIPS advocates 20% of bond allocation as appropriate. See the article for comparisons of returns over recent years with total bond index. (see chart below)

50 ways to say NO

Love that title! I particularly love the . at the end of each emphatic statement! Here's a bit of the list starting with:

  • No.
  • Nope.
  • No thanks, I won’t be able to make it.
  • Not this time.
  • No thanks, I have another commitment.
  • ...

ending at

  • I’m honored, but can’t.
  • No.

Fountain pens - unusual nib

Image source:

The fude nib has a sharp bend near the tip and are controlled by changing the angle of the pen against the paper. This dramatically changes the line width from thin to very wide. The wide line width, drawn with the pen at a low angle to the paper, is almost brush-like. Origin appears to be Japanese. Pronounced FOO-De

Image source:

Ink suggestion: Platinum Carbon Black Quote from GouletPens waterproof, pigment-based carbon ink is highly sought after by artists

10 Worst Accounting Scandals

No matter how big and tough a problem may be, get rid of confusion by taking one little step toward solution. Do something.

George F. Nordenholt

Page Views: 1633 | << Scribbles - February 2014 | Trail Index | Notes >> | HomeLinks