A Dozen Things I’ve Learned from Charlie Munger about Risk

By Ned Hawley | Sep 11, 2015 | 0 Comments

“Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.” Risk has many different dimensions that must be considered including sources, magnitude, outcomes and decision making inputs. In terms of a definition, Seth Klarman writes that risk is: “described by both the probability and the potential amount of…

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Hedge Fund’s Radical Idea: Performance Guaranteed or Your Money Back

By Ned Hawley | Sep 10, 2015 | 0 Comments
Wall Street Journal

Excerpt: Hedge-fund managers have long clung to a doctrine of high fees in good years and bad, minting billionaires and riling investors along the way. A pair of former Harvard University endowment executives have built the world’s largest stock-focused hedge fund with the opposite approach. Robert Atchinson and Phillip Gross let investors in their $28…

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How This Couple Is Able to Retire at Age 33

By Ned Hawley | Sep 9, 2015 | 0 Comments
TIME.com stock photos

Excerpt: “Don’t unconsciously mimic the spending habits of those around you”.  (Time)

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6 Reasons for David Swensen’s Success at Yale

By Ned Hawley | Sep 9, 2015 | 0 Comments

Excerpt: Personal respect and affection. Ellis claims this may be the most important secret to Yale’s success: “Visitors to Yale’s Investment Office are invariably impressed by the open architecture and informal ‘happy ship’ climate that is almost as obvious as the disciplined intensity with which the staff work at their tasks and responsibilities.” (A Wealth of…

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Avoid Worrying About a Future That May Never Happen

By Ned Hawley | Sep 9, 2015 | 0 Comments
AvoidWorryFuture

Excerpt: “We’re all capable of the same success. Over time, of course, we’ll need to peek at that big goal on the horizon and see if we need to make a course correction to avoid a real problem. But the rest of the time, we need to keep putting one foot in front of the…

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