Does wealth provide advantages? Yes, but it can also invite some unique challenges. Consider country music singer Kane Brown. A little while back, shortly after moving into a new home, he went out for a walk. He told his wife he'd be back in half an hour. But seven hours later, after getting lost, [...]
In his company's 2006 annual report, Warren Buffett devoted several paragraphs to a scathing criticism of the hedge fund industry. Their fees, Buffett wrote, were so exorbitant and so stacked against investors that they amounted to a “grotesque arrangement.” For that reason, Buffett frequently [...]
Acclaimed author Malcolm Gladwell talks about the importance of adding “candy” to his writing. By this, he is referring to the side-notes, trivia and factoids that he uses to hold readers’ interest. Gladwell is quick to note, however, that writing can’t be all candy, with no “main course,” just as [...]
This week the world met WeWork founder Adam Neumann. The meeting did not go well. In recent months, WeWork had been preparing an initial public offering for its stock, and things seemed on track. But by the end of this week, the IPO had been shelved and Neumann was out of a job. The proximate [...]
In the summer of 2000, the Art Institute of Chicago fell under the spell of a young hedge fund manager named Conrad Seghers. The allure? Seghers claimed that his funds, called Integral, offered “the highest Sharpe ratios in the industry.” The Sharpe ratio is supposed to measure an investment's risk [...]
