The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Most UHNW investors cannot name three alternative asset providers
“I'll call out a Bain survey from twenty-twenty-two. Bain and company asked 418 ultra high net worth individuals. Name three firms that come to mind when you think of alternative assets and who are the providers. First answer, the biggest answer in the bubble c…”
Daniel: Major asset managers had zero energy stocks in top 50 holdings
“We took all the large asset management complexes. I think Wellington. Wellington, Fidelity, Neuberger, you name, Capri, you name them, and say, okay, let's figure out where their largest energy exposure is and what number it is in their portfolio. They're taki…”
Forman: Brokerages capture all securities lending yield from retail investors
“If you own stocks on your Fidelity or Schwab account, you are earning Zero percent on them if you're a retail investor. And on the back end, to the extent people are shorting an asset that you own, Fidelity, Schwab, whoever your brokerage is, is making that sp…”
Sacerdote: Peter Lynch Timed Fidelity Analysts' Stock Pitches with Egg Timer
“Peter Lynch, he wasn't active when I was there, but he would meet with the analysts individually three or four times a year, and he always had his thing, the egg timer, where you go into his office and he turns the egg timer.”
Mogelof: Six asset managers control over 85% of target date fund assets
“There are really six managers that dominate the market, probably have 85 plus percent of the assets. That's Vanguard, Fidelity, BlackRock, State Street, T. Rowe, and Capital Group.”