Businesses, Stock Markets & the Economy

• “Lesson 1: Valuations cannot be used to time markets.”
• “Lesson 2: Active management is a loser’s game.”
• “Lesson 3: Don’t make the mistake of recency; last year’s winners are just as likely to be this year’s dogs.”
• “Lesson 4: Gold is not an inflation hedge over your investment horizon.”
• “Lesson 5: The investment world isn’t flat, and the diversification of risky assets is as important as ever.”

• “Lesson 6: Hedge funds are not investment vehicles; they are compensation schemes.”
• “Lesson 7: The correlation of returns of stocks and bonds is time varying.”
• “Lesson 8: Don’t let your political views influence your investment decisions.”
• “Lesson 9: Diversification is always working; sometimes you like the results and sometimes you don’t.”
• “Lesson 10: The strategy to sell in May and go away is a myth.”

Your Finances & other Wealth Management links

A Former Hacker’s Guide to Boosting Your Online Security. “More stolen personal data is available online than ever before. A man who once ran a website that prosecutors called the Amazon of stolen identity information offers his tips on the best ways to protect your data.” (ProPublica.org)

Every purchase must be paid for twice, first in dollars, second in time. (raptitude.com)

The Environment & ESG (Environmental, Social & Governance) Investing

Your gas stove is always polluting, even when it’s turned off (vox.com)

Discarded 1990s Energy Invention Makes a Comeback “Once deemed too expensive, triple-pane windows could help reduce emissions by improving energy efficiency.” (Scientific American)

This Week’s Serendipity

Visualizing the $94 Trillion World Economy in One Chart (Visual Capitalist)

Source: Visual Capitalist