Audiobook is out, and more
You can finally listen to Low Risk Rules on the way to Rockaway Beach
Quite the week here at Low Risk Rules HQ.
Welcome new subscribers
It’s not the first time I was asked to comment on Larry MacDonald’s Globe and Mail TFSA Trouncers column, but for some reason this time it got a lot more clicks.. and over 100 readers found their way here. It’s the largest jump in subscribers since my appearance on the Value Stock Geek podcast a couple of years ago.
To all of my new subscribers - welcome! Thank you for inviting me into your inbox. I try my best to not waste your time and to keep these weekly messages brief and useful. I also invite any and all feedback and love to connect with readers, so please don’t hesitate to reach out anytime. Just hit reply!
Low Risk Rules Audiobook is finally available!
I got many requests for this. Frankly, I couldn’t justify the cost of producing a proper audiobook. I had a plan to read through the book, along with my updated personal commentary, on a podcast one day. I still might do that, but it’s not in the cards anytime soon.
So I’m happy to announce that the audiobook version of Low Risk Rules is available, exclusively on Apple Books.
This was a bit of an experiment on my part. The book is read by an AI-generated voice and I’ll be honest, I’m not a huge fan of how these voices interpret the written word. I’m lukewarm on the outcome, but for those who have been waiting for the opportunity to listen to the book rather than read it, this is your chance, albeit a few years late. I’d really appreciate any feedback (positive and negative!) from anyone who takes the plunge on this one.
The Dean of Valuation weighs in on alternative investments
Us finance geeks call NYU Finance professor Aswath Damodaran “The Dean of Valuation” for the detailed work he does estimating values for some of the market’s most popular stocks. His work, while overly academic, is a good entry to understanding how companies are fundamentally valued.
While my writing here is generally just smart-assed commentary ripping off other people’s research, Professor Damodaran actually does a lot of technical quantitative work to back up his opinions. So it’s heartening to see that in his detailed look at the alternatives space, he reached the conclusion that “…it is becoming increasingly clear that… the actual effects on returns and risk from adding alternative investments to portfolios are not matching up to the promise.”
Hey, that’s what I wrote in Chapter 8!
Someone please send him a copy of my book, and let him know I’m down for a collab. 😉
Professionalism in investment advisory
As poor an opinion as I have on the mainstream investment industry, somehow I keep finding examples that reach new depths. In the last couple of weeks I’ve seen portfolios transferred in from other “advisors” which have been ridiculously expensive, dangerously speculative, or both. I’m talking retirement accounts full of penny stocks and lottery tickets. The market is hitting new all time highs daily. If your portfolio has been languishing for years (I saw a portfolio that has been flat since 2019!), it’s time to seriously look for an escape route.
Almost as bad was another “advisor” who scolded a client transferring their assets out - angry that they would exercise their freedom to move their own assets out after “all of the money I have made you over the years.” It was a shockingly unprofessional display from an advisor who had formerly been written up by a local paper as one of the premier money managers for the region’s wealthiest families. I truly worry about that person’s clients.
There are a lot of great investment advisors and portfolio managers in this business. I know that many of you reading this right now fit this description. We need to come together now, more than ever, to educate clients on proper risk management.
Those of us who recall the bursting of the bubble in 2000 know that this won’t end well, and people’s financial futures will be ruined. This is why it’s so important for me to spread the word about a low risk equity investment strategy, and a big reason to keep writing.
The Checklist Series will continue…
In recent months I’ve been taking some time to expand on the characteristics of high quality, lower risk investments that I discussed in the book.
These entries are all being written as I go, and I often don’t have time to meet the weekly deadline. Hopefully, Part 7 will appear sometime in August. In the meantime, you can catch up on prior entries here:
The sun is out, and I want some
Enjoy the last few weeks of summer. Hitch a ride to Rockaway Beach!
Thanks for reading!