Learner, consultant, blogger, runner, gardener | @AlphaBetaBlogFR in 🇫🇷 | CFA, CAIA, CIPM | #financiallitteracy #literature #history
Paris, France
Joined February 2009
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Dave Nadig on actual fee-revenue in the US ETF space. etf.com/sections/advisor-cen…
Jason Zweig:
❝ Lots of ETFs that seemed dirt-cheap 20 years ago when compared with mutual funds now seem like rip-offs alongside newer ETFs whose expenses are far lower. Why don’t more people dump them? ❞ wsj.com/finance/investing/yo…
For Robin Wigglesworth, there are two school of thought to explain the recent bond market sell-off. ft.com/content/e5585991-c884…
Why the U.S. stock market didn't crash.
❝ One story is that the stock market is fine today, perhaps better than fine if the expected returns on both stocks and bonds have risen thanks to AI. ⤵️
An alternative explanation is that the stock market is making a mistake and has failed to react properly to the rise in rates. ❞ acadian-asset.com/investment…
Shane Parrish:
❝ "I don't use Artificial Intelligence."
A carpenter who refuses a hammer doesn't make the house any better. He has only made his work slower and harder.
Judge the work, not the tool. ❞
❝ The AI boom does not need another sustainability label. It needs ESG analysis capable of distinguishing between growth that is merely resource-intensive and growth that remains economically attractive after those resources have been paid for. ❞ rpc.cfainstitute.org/blogs/e…
Liz Ann Sonders (Charles Schwab):
❝ As I've often said, there are very few free lunches in investing. Asset allocation, diversification, and periodic rebalancing are as close as you get. ❞ advisorperspectives.com/comm…
Ben Carlson:
❝ Diversification is the only rational solution for worries about stock market concentration.
Alternatively, you could just stay in index funds and continue letting the market pick the winners for you. ❞ awealthofcommonsense.com/202…
For Chris Flood, "Far more scrutiny of all social media platforms and the finfluencer community will be needed by regulators as the retail investor revolution gathers speed across Europe." etfstream.com/articles/socia…
❝ There are good reasons that private funds have been largely off-limits to ordinary investors — and those reasons still exist. ❞ advisorperspectives.com/arti…
Eight things private credit managers rarely advertise about investment leverage, volatility, and withdrawal limits.morningstar.com/funds/debunk…
Steve Novakovic, CAIA, CFA, Managing Director, Educational Programs of CAIA Association, on evergreens:
❝ I don’t know which inning we are in. But when it comes to the rise of evergreens, I believe we are in the early innings. ❞ caia.org/newsletter/evergree…
Just one sector — IT — providing more than two-thirds of global earnings growth is not normal. ft.com/content/d36787c1-f0b0…
How a perpetual future can give you exposure to a private company. etf.com/sections/equity/perp…
Vanguard on its Investor Choice program:
❝ The number of participating investors increased more than sixfold, from 82,000 in 2025 to 507,000 in 2026. ❞ corporate.vanguard.com/conte…
❝ Portfolio managers and equity and financial analysts, need to look beyond the reported “Investment in JV” line in company filings. ❞ rpc.cfainstitute.org/blogs/e…
Vanguard’s latest research report, Transferring wealth with wisdom, is here. advisors.vanguard.com/insigh…
Sell-side analysts ❝ are [...] commonly regarded as something between a source of entertainment and a conduit between the real players. ❞
Wrongly. ft.com/content/f3c93f16-28f0…
For McKinsey, shareholder activism can create value, but only under some circumstances. mckinsey.com/capabilities/st…
