• Crowdfunding v. Traditional Funding

    Crowdfunding is a way for startups or new ventures to raise capital from many investors in small amounts. The Securities and Exchange Commission (SEC) has rules in place for crowdfunding, and here is a recent excerpt from an SEC bulletin : Crowdfunding...
  • How and Why To Invest In Commodities

    The best assets to add to an investment portfolio are those that increase the portfolio expected return while reducing the total volatility. To find such assets, investors seek those whose returns are not perfectly correlated with the returns of the existing...
  • Nobel Laureate Richard Thaler on Nudges, Shoves, and Risk Management

    Richard Thaler is the winner of the 2017 Nobel Prize in Economics. From the NY Times (Oct 9, 2017): Richard H. Thaler, whose work has persuaded many economists to pay more attention to human behavior, and many governments to pay more attention to...
  • Technical and Fundamental Analysis of the Stock Market

    Technical analysis is the use of price and volume charts to forecast buy and sell signals in financial markets. The Efficient Market Hypothesis (EMH) says that market prices already reflect all we know about a stock--that is, full information--and therefore...
  • What Makes Markets Tick: The Rules of Adam Smith

    This Financial Times video reviews the rules of Adam Smith and what makes markets successful Rule #1. Markets work best when as many people as possible are involved Rule #2. Markets are most efficient when prices are transparent to many participants...
  • Contrarian and Momentum Investing

    No one knows when a stock market crash will come, though some investors believe they can time the market. Followers of technical analysis believe that they can use historic trends in prices and volumes to buy and sell and outperform the market. These...
  • Trading Today Vs. Yesterday

    This video gives an interesting view of how trading has shifted from the open outcry chaos to the computer based trading of today. For discussion : 1. What are the changes that have taken place since the end of pit trading? 2. What are the benefits...
  • Should You Invest In This Market?

    The equity market has been climbing, and this video tells how investors are finally getting used to the idea. In fact, it claims that investors are learning to love this market where they have been nervous to join it so far For discussion What is...
  • How To Predict The Next Financial Crisis?

    Have we learned anything from the last 10 years? How can we protect ourselves from the next financial bubble? This Financial Times video points out a few rules of thumb to predict the next banking crisis: For discussion: What "myths" does...
  • What Does The Big Mac Cost Over There?

    The Big Mac Index is published by the Economist magazine, and gives readers a sense of the differences in purchasing power across international markets. The idea is that a good or service will cost the same in different markets, once we account for exchange...
  • What is Risk?

    In this video, Peter Bernstein explains that risk means "more things can happen than will happen." It doesn't necessarily mean we're in danger, just that we're facing uncertainty. In finance, many people define risk as the probability...
  • When Choosing Stocks, Know Why to Buy

    Peter Lynch is the famous portfolio manager who has since retired from running the Magellan Fund for Fidelity Investments. Known for his popular investing book, "One Up On Wall Street," Mr. Lynch became known for the wisdom to "Invest in...
  • Why Buy Bonds with Negative Yields?

    Back in the old days, we taught finance assuming that zero was the lowest interest rate possible. Not so any longer. Today, interest rates are negative and investors are putting up with it. Why? Well, there are several reasons that investors are willing...
  • What is the IMF?

    From the IMF website: About the IMF The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable...
  • The Darling Stock of Hedge Funds

    This CNBC video shows that Alphabet (parent company of Google) is the new darling of hedge funds. What are hedge funds anyway? The SEC describes them like this: Hedge funds pool investors’ money and invest the money in an effort to make a...
  • The End of Open Outcry Trading

    The day of the trading pit with the shouting came to an end in 2015 when open outcry was replaced by electronic trading. We've all seen videos of the "old days," but this video below gives a brief picture of what that style of trading used...
  • Black Swan Events in Recent History

    According to Nassim Taleb, people had always believed that swans were white. That is, until the discovery of Australia, when the first black swan was sighted. Taleb uses the metaphor of the bird to describe events that are so improbably, no one would...
  • Investor Expectations Already Reflected in the Market: The Case of Amazon

    Modern Portfolio Theory teaches that financial markets are efficient in that all information about a company is immediately and fully reflected in the stock price. We can argue this all day. Some point to the fact that investors can consistently beat...
  • Charley Ellis: The Shift in Active Investing Over 50 Years

    Active managers charge a fee to make investment recommendations, in contrast with passive investing where the investor accepts the same return that would be earned by buying a basket of stocks that match the market average. Active managers charge a fee...
  • Can You Do Better than Stock Experts?

    Is it worth the time and expense to pick stocks that you think are going to beat the market? What if you selected your stocks by simply throwing darts at the newspaper? Would you do better, the same, or worse than a managed fund (that is, a fund managed...
  • Ben Graham on Investing

    This archive video shows the legendary Ben Graham, author of The Intelligent Investor. He describes the activity of the investor in the stock market: "You have your choice between tossing coins and taking the consensus of expert opinion. And the...
  • The Price of Goods Around the World

    This infographic compares goods across the world and shows that the price is not necessarily the same as you cross borders. For discussion : Why do we believe that prices SHOULD be the same across the world? What causes prices to differ across the...
  • What's Happening to Hedge Funds

    In this interview with Ken Griffin, CEO of Citadel, we see that second-tier hedge funds are closing due to competition. Everyone is seeking to beat the market and generate "alpha," but alpha is hard to find. For discussion : 1. How can investment...
  • The Sound of Algorithmic Trading

    Three quarters of trades are coming from machines rather than humans. The average holding period for a stock on Wall Street is a mere 22 seconds. This TedX talk explains algorithmic trading and its importance to Wall Street. For discussion: 1. What...
  • High Speed Traders

    Many US stocks aren't traded by humans. On the contrary, many transactions are executed by computers based on algorithms created by "quants" or quantitative analysts. The trading instructions are programmed based on probabilities that are...