Something Good for the Month

March 2023

March 2023

Read. Reflect. Re-energize.

The Daily Feather | Too Small to Not Fail

“It is worth noting that ‘too big to fail’ is not simply about size. A big institution is ‘too big’ when there is an expectation that government will do whatever it takes to rescue that institution from failure, thus bestowing an effective risk premium subsidy. Reforms to end ‘too big to fail’ must address the causes of this expectation.” – Jerome Powell, March 4, 2013

Advisor Flex | The Evolution of an Investor

Blaine Lourd got rich picking stocks. But then he realized that everything he thought he knew about the markets was wrong. And he’s not alone.

Merryn Talks Money | Why Inflation May Not Be Heading Back to 2%

Inflation isn’t heading back to 2%, according to Pippa Malmgren, author and former adviser to President George W. Bush. She says it’s more likely to stay around 4 to 5%. Why? Malmgren contends that it’s because the main problem facing economies today is tied to supply and demand, and that means traditional inflation-fighting tools won’t really work. Malmgren joins this week’s episode of Merryn Talks Money to talk inflation targets, geopolitics and Britain’s future in space.

Bloomberg | How Moneyball Investing Ran Into a Data Squeeze Play

Quants can arbitrage away the advantages in factors and statistics almost as soon as they’re discovered. Look at the once-innovative Oakland A’s.

CFA Institute | ChatGPT: The Origins, the Hype, the Opportunity

“With the emergence of ChatGPT, large language models (LLMs) have captured the zeitgeist, and the future opportunities and pitfalls they imply for finance and investment management are enormous. For a small elite of high-tech investment managers, LLMs provide another systematic tile in an ever-expanding mosaic. But for most, they represent the starting whistle of a tech arms race many had hoped to avoid.”

Historic Vids | Current Financial System Explained

A classic video on the “Current financial system explained” by The Three Stooges.

Investment involves risk, uncertainty and assumptions. The value of investments rise and fall and there is a risk you may not recoup the amount originally invested. Past performance is not a reliable indicator of future performance.

The contents are provided as general in nature and should not be relied upon nor construed to be the rendering of specific tax, legal, accounting or professional investment advice. Readers should consult with their own accountants, lawyers and/or financial advisors for advice on their specific circumstances before taking any action.

The information contained herein is from sources believed to be reliable, but accuracy cannot be guaranteed. No representations or warranty, expressed or implied, is made by Caldwell Investment Management Ltd. or its affiliates.

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