Meditations on Investing
Meditations on Investing
Angelo Calvello
Reflections of institutional investing
Restaurants are being destroyed. Money managers should be scared.
In this time of the coronavirus, beware of the parallels between smaller managers and independently owned asset managers.
Mar 31, 2020
11 min
The Hedge Fund That Wasn’t
Bruce Shi of Thrones Capital claims in Forbes to be one of the most successful managers in the w. An investigation by Angelo Calvello suggests he’s something else.
Dec 18, 2019
21 min
The overplayed, turbohyped, and underwhelming world of artificial intelligence in investing.
Every manager claims they’re “doing” AI, but here’s what investors can ask to find the truth.
Dec 1, 2019
15 min
Capitalism: A Rejoinder
In late May 2019, my fellow columnist and friend, Christopher Schelling, penned an essay on free-market failures — namely, that America has too little capitalism. This is my response.
Aug 6, 2019
15 min
The insane story of how an early quant investor went rogue.
Intentional HIV infection. Acid attacks. Attempted murder. Nothing was apparently beyond the pale for one of the fathers of computer-based investing.
Jun 27, 2019
11 min
Embrace the Black Box
It’s a universal truth that investment processes should be understandable. However, artificial intelligence managers can provide no authentic explanation of their investment process. How can an investor pick an asset manager when no one knows what it does?
May 20, 2019
7 min
The closest thing to white supremacy I’ll ever get to write about
It’s not Charlottesville, but the hypocrisy of TPG’s William McGlashan — the prominent impact investor caught up in the college acceptance cheating scheme — is as awful as I’ve ever seen.
Apr 8, 2019
8 min
Death in the Time of Bitcoin
A crypto currency exchange founder dies, leaving 115,000 customers without access to their digital coins. But is their bad luck someone else’s fortune?
Mar 28, 2019
9 min
BlackRock crosses the AI Rubicon
With BlackRock's artificial intelligence pivot, there is no turning back
Mar 13, 2019
6 min
Does alpha exist?
Examining the investment debate of luck versus skill within a theological framework.
Feb 25, 2019
6 min
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