Starting Something New

This Week on The Compound

May 19, 2024

This week on The Compound

This week on TCAF, Josh and Michael were joined by Packy McCormick of Not Boring newsletter fame. They discussed the secondary market in startup shares, the AI landscape, and the future of SBF. (Listen)

INSIDE THE COMPOUND

Much market commentary you read or hear isn’t based on actual data. Ben Carlson at A Wealth of Common Sense shows that prior year stock market performance doesn’t actually tell you much about what will happen the next year.

Mean reversion can be a powerful force in the stock market. But over the short-run things are still pretty random when it comes to market returns.

Ben Carlson

FRIENDS OF THE COMPOUND

Much has been written about the passing of Jim Simons the founder of Renaissance Technologies. On an early episode of Live from the Compound, Josh and Michael spoke with Gregory Zuckerman, author of the definitive biography of Simons, The Man Who Solved the Market. This week, Trung Phan noted another unique aspect of Simons' career:

My main takeaway from the [Simons] story is how it’s never too late to start something new. Simons gave up his academic career at 40 and became arguably the greatest investor ever.

Trung Phan

MERCH

The sun is out! ☀️ Cover your head with a classic TCAF dad hat, which you can find at idontshop.com.

COMING SOON

Speaking of starting something new. Next week on TCAF, Josh and Michael will be joined by the legendary Joe Moglia, the former CEO of TD Ameritrade AND former head football coach at Coastal Carolina.

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