Fluctuation risk – Perpetual Prudence

Does Equity Always Win?

28/01/202114/07/2022 Haydn Martin 0 Comments Bankruptcy risk, Corporate Bonds, Equity Risk Premium, Fluctuation risk, Government Bonds, History

Does equity always beat other asset types? It seems to beat the “risk-free” rate of return. Why?

The Fundamentals

PPP 2: Starting With Risk

03/12/202014/07/2022 Haydn Martin 0 Comments Bankruptcy risk, Fluctuation risk, History, Principles

Before you start worrying about returns, worry about risk. Focus on the potential downsides of your portfolio and the returns will take care of themselves.

Investment Philosophy Probability and Statistics Risk

Shit Happens

14/07/202014/07/2022 Haydn Martin 0 Comments Ergodicity, Fluctuation risk, Strategy

Stuff happens outside of your portfolio that can force you to sell. Timeline is stochastic. This is why investors often don’t enjoy the returns of the index.