How to Manage Luck and Skill

Luck and skill in investing are easy to name and hard to separate. In this companion piece to the latest Sweat Your Assets podcast and YouTube episode, Michael Mauboussin offers a simple test to locate any activity on the continuum between pure chance and pure skill,...

The History of Finance

The history of finance is older than writing, older than money, older than the state. And yet most of us go through life without ever being told its story. Look closer, and you find something extraordinary: the entire edifice of human civilisation — trade, writing,...

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