This is Water

Time to add a fourth shift in the Zeitgeist: capitalist productivity, now 200+ years old, is becoming capitalist financialization.

Wall Street gets something to sell, management gets stock-based comp, the Fed gets a (very) grateful Wall Street, and the White House gets re-election.

What do YOU get out of financialization? You get to hold up a card that says “Yay, capitalism!”.

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Pricing Power (pt. 3) – Government Collaboration

What killing active investment management? It’s not some monster hiding behind the rabbit. No, it IS the little white bunny. It’s the Zeitgeist of capital markets transformed into a political utility, innocuous on the surface … but with killer teeth.

How do you defeat the Zeitgeist? You don’t. The smart move, in fact, is to help the killer rabbit.

But there IS another way.

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Notes from the Diamond #3: Everything Has Its Price

Allocators and investors can learn a lot from professional baseball about how to structure incentives and compensation for portfolio managers. And how NOT to do it.

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Notes from the Diamond #2: Until the Truth Comes Out

Part 2 of a multi-part series that seeks to enhance readers’ deployment of both human and financial capital through the exploration of parallels between money management and professional baseball.

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Notes from the Diamond #1: Always Something New to Learn

Yazstremski waits for the bounce.

Part 1 of a multi-part series that seeks to enhance readers’ deployment of both human and financial capital through the exploration of parallels between money management and professional baseball.

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