Strategy

How total outsider Liddle Mo Lidsky built and sold Prime Quadrant in under 10 years
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Objectively, what Mo Lidsky has accomplished at Prime Quadrant is remarkable. Prime Quadrant's big transformation started in 2011.  Until then, the firm had been led by Ian Rosmarin and his junior partner Evan Cooperman.  Evan left in January 2011.  Fortunately, at the same time, a saviour by the name of

HNW shops

The Second Mouse Plan Part 3: The Church of Latter-Day Mice
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This is the conclusion of The Second Mouse Plan essay (Part 3).  Make sure you have read Parts 1 and 2 first.  Start here: The Second Mouse Plan — Introduction. Don't follow your passion!They call me Jay-Hova ‘cause the flow is religious. -Jay-zYou probably thought I had moved on from

Second Mouse Plan

The Second Mouse Plan Part 2.2 - The Playbook
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If you haven't read the previous parts, start here: Start here: The Second Mouse Plan — Introduction. Last week, I presented the first two strategies for reducing risk while still trying to make money: 1) being a copycat and 2) piggybacking on things that are already gaining strong traction. You are

Second Mouse Plan

The Second Mouse Plan Part 2.1 - The Playbook
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How the Unimaginative Can Thrive in the Age of the Unicorn Recap of Part 1: Startups and venture capital suck at ROI. Most investors are seduced by potential and blind to probability. You can read Part 1 here. Part 2 is the core of the Second Mouse Plan and provides

Second Mouse Plan

That time I phoned Black Swan author Nassim Nicholas Taleb
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Despite recent developments, I will focus on my niche of telling you about things that happened 15 years ago. Around 2005, I met a unique trader / investor for whom I continue to have great respect. Let's call him Bruce Wayne. I asked Bruce about his strategies and he said the

NoBull Klev

The nature of the Portfolio Manager - Analyst relationship
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I wrote this essay on the true nature of the analyst’s role when they work for a portfolio manager. This piece originates from a discussion I was having with an analyst who felt confused about his role. It might also help cure some delusions many portfolio managers have, but

Money Managers

The need for an Apex Allocator
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A thought piece on changes in the investment industry.

NoBull Klev

An investment riddle for the Holidays
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Dear disgruntled reader, I wanted to leave you with a riddle to ponder over the Holidays. Let’s take two classic Buffett statements and analyze them: 1) Our favourite holding period is forever 2) All investing is value investing These two statements, though undeniably Buffettesque, are hard to reconcile. Let’

Strategy

The secret to raising money
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Man is the most vicious of all animals, and life is a series of battles ending in victory or defeat.-Donald Trump, politician, author and thinker “The older I get, the more I realize how many kinds of smart there are. There are a lot of kinds of smart. There

Marketing

The Second Mouse Plan — Introduction
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How the Unimaginative Can Thrive in the Age of the UnicornThis painting depicts the fall of Icarus (near bottom right corner) and shows society’s indifference to individual failure — No plough stops for the dying man. Or the failing co-working space.“Do not let the brevity of these passages prevent

Second Mouse Plan

What Wealthsimple can learn from Kevin O'Leary
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The essence of success is that it is never necessary to think of a new idea. It is far better to wait until somebody else does it and then to copy him in every detail except his mistakes. -Some authorLet me state upfront that Kevin O’Leary is anathema to

Fintech

What Wealthsimple acquiring SimpleTax means and why tax preparers are the urologists of the financial world
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Last month, Wealthsimple acquired SimpleTax, an online DIY tax filing service out of BC.  SimpleTax has about ten employees and this is a small acquisition for a firm that just raised some $130 million earlier this year. SimpleTax is known for awesome, user-friendly interface and a "pay what you want"

Fintech