Odd Lots

AI software and the hardware that enables it have been hugely popular investments this year. But there have still been limiting factors on the sector, including a shortage of compute to power so many ...

9 Dec 202449min

In the 2010s, we saw an incredible boom in the venture capital space, fueled in part by cheap capital as well as cheap compute. Fast forward to today, and many things look very different. We're not in...

6 Dec 202446min

For years, investors have relied on the classic 60/40 portfolio of stocks and bonds. The idea behind this was simple: bonds tend to go up when stocks go down, so the two things should act as a natural...

5 Dec 202445min

It's trite to say that there is a high degree of uncertainty right now, for macro forecasters and investors. It also happens to be true. The new administration is promising major policy changes in are...

2 Dec 202453min

The election of Donald Trump, with his promise of more tariffs and a much tighter stance on immigration is a source of major macro uncertainty. To some it marks the end of a certain neoliberal consens...

29 Nov 202427min

When it comes to credit investing (or really any investing), there's an analytic art in deciding the right price to pay for a security. But often that's only part of the challenge. First you need some...

28 Nov 202449min

In the Zirp era of the mid-2010s, credit markets were booming and investors were clamoring for anything that would produce yield. So they were willing to accept fewer legal protections embedded in bon...

25 Nov 202443min

For years, the Harvard Endowment has easily been the largest endowment of any university. But as of right now, it's at risk of losing its crown to the University of Texas. So what happened? It's a com...

22 Nov 202437min