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 3 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
Solomon: Passive investors drastically underperform active managers on a dollar-weighted basis
“And so when you look at, if you just do a an adjustment for the performance and passive product, just take the S and P and look at when people entered and exited as a proxy, or look at volumes as a proxy for when people entered and exited, they actually haven'…”
Milken: Three US companies are AAA, but S&P rated 15,000 structures AAA
“There's maybe three companies in America that are rated triple A. S and P rated in a period of time, 15,000 structures, triple A, almost all of them real estate. And in some cases you lost 100% of your money in a triple A.”
Glidden: PIMCO beat equity benchmarks via derivatives and bond portfolios
“It's really hard to beat equity indices by picking stocks in a constrained manner. But what PIMCO did, they pair an S and P 500 derivative on top of a bond portfolio. So then they get some alpha, some duration, some credit, and they beat the index that way and…”