Kyle Bass, who was just nine years old when he graduated from college, had already established himself as a young finance professional with a lot of ambition. Bass, who spent two years with Prudential Securities as a stockbroker, joined Bear Stearns in Dallas, where he rose quickly through the ranks to become senior managing director by…
The Merriam-Webster Dictionary defines “luck” as ” an event or circumstance that works for or against a person. “ It is easy to identify good and bad luck: It is good luck to bet on red and have the ball land on Red 23, The ball rolling into Red 23 and then ricocheting back to Black 10…
I am a poker player. I play poker a lot. The greatest game of all time is played at a poker table where skill, money, luck, adrenaline and probability are combined. I was in London last Tuesday with my friend Jake. We are both poker enthusiasts, so we visited the Hippodrome Casino located in Soho. Three hours later, the…
The process is simple and goes like this: I first invest in an S&P 500 Index Fund. Then, I chill. Simple, no? It is because of the following reasons that I “index-and-chill”. The reason I “index and chill” is as follows. For those who are curious, I started out with $6,000 After this rollercoaster ride, I came…
Three investors are active in the market at present: Winners – Those who have made an absurd amount of money within a short period of time Losers – Those who have lost an absurd amount of money within a short period Outsiders: People who have neither gained nor lost significant amounts of money but took…
In the first chapter of The Reality Bug the fourth novel of the Pendragon series, Bobby Pendragon is walking through Rubic City in Veelox, a foreign metropolis. Rubic City has paved streets, towering skyscrapers and is very similar to Bobby’s Earth. However, there is a striking difference. There are no people. Rubic City is a post-apocalyptic Manhattan, where the…
The past is waiting to be played out in the outcome of a game with a finite number of players. Anyone who plays towards a specific outcome wants a specific past. Finite players are competing to win a prize in the future, but they also want a prized history. James Carse Finite & Infinite Games In…
Some Brief Updates I am a radical advocate of transparency and want to let you know the current state of Young Money. Here are a few updates. Young Money’s first two sponsors Please fill out this 8-question survey. I didn’t sell Forbes my blog for $5M (I love April Fools Day). You may have noticed that the welcome…
Let me tell you a tale in reverse. Let’s start with the end, and then look at how we got there. The conclusion Meeting other writers can be fun. It’s really cool to meet the author of the best-selling book on finance in the past two years. It’s really cool to chat with the author of the best-selling…
Financial markets in the last few years have been anything but usual. GameStop’s share price was $400 (pre-split). Nikola Motors briefly had a value greater than Ford. NFTs were valued at millions. The most crazy market moment of the pandemic period wasn’t a cryptocurrency, meme stock or SPAC. Sweet, sweet crude was the market’s most insane moment. The oil…
