Much has been written about the merits of passive index investing using Exchange Traded Funds (ETFs). Even for active value investors, I believe there is sometimes a place for ETF investing for people wishing to move into a new market, possibly just outside their circle of competence, in a low-risk fashion. The way I think about … More ETF Investing using Shiller’s CAPEs
The Macau gaming stocks have been smashed in the last 18 months, down 70% in certain cases. The following chart, which shows the Macau Gross Gaming Revenue (in units of MOP million) as published by Macau’s Gaming Inspection and Coordination Bureau, shows the underlying problem: since early 2014, the total Macau gaming revenue has dropped … More SJM Holdings — A Value Play
Combating terrorist financing
My Irrational Life
Updates on my research and expository papers, discussion of open problems, and other maths-related topics. By Terence Tao
Mental Models 4 Life 