Capital Gains
Learn how to think about finance, economics, and corporate strategy.
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Markets as a quest to move risk onto the right balance sheets and worry into the right brains
How do you enforce a cartel when everyone's trading electronically?
What can we learn from the USSR's brass-knuckled commodities trading coups?
Is it just another real estate deal?
How fast does the financial scenery change?
Imperfect efficiency from investor preferences and the cost of information aggregation
The biggest source of alpha is knowing when you're unlikely to have alpha
Where volatility transfers wealth
On monster grants, $1/year salaries, performance hurdles, and more
Bond vigilantes, corners, and bearers of bad news
It's useful to measure poverty, but its connotation is more stable than its denotation
People don't just happen to hate economically efficient taxes: they hate them for the reasons they're efficient
