Personal Finance: The Boring Part Is the Part That Works
Most attention goes to choosing investments — the part you control least and that matters least. Saving rate, time, and costs decide the outcome, and all three are dull.
Topic
Capital Markets
Venture Capital: The Maths Only Works With Outliers
Most investments return little; one or two return the entire fund. Every practice in the industry that looks strange from outside is a rational response to that distribution.
Markets: A Price Is a Bet, Not a Measurement
A company posts record profits and the share price falls. That stops looking irrational once you see that a price already contains what everyone expected — and moves only on the difference.