**Theory and Education**

**Risk and the math of returns**

*The Volatility Drain*

- arithmetic vs geo: how compounding changes the mean returns

- how compounding messes with your observations in real life

- protecting yourself from the impairment that comes with volatility

- cross insights from options trading

*Path: How Compounding Alters Return Distributions**.*

- An exploration of how path or sequence of returns affects compounding.
*The compounded case isĀ**better when we trend and worse when we āchopā.**If bet a fixed percent of our bankroll fair coin toss game we are in compound return land.***Compounding is not ābadā, it just alters the distribution of our terminal wealth**

- Lessons from compounding coin flips
- Your overall expectancy is zero because the common chop balances the rare but heavily compounding trends.
- Paths affect distribution of p/l even if they donāt affect expectancy.
*Since we actually experience āpathā and all its attendant emotions, it pays to think about the composition of expectancy and returns.*

*Where Does Convexity Come From?*

- What convexity is and what convexity isn't.

*Do Professional Investors Understand Fees?*

*Fees need to be considered in light of the strategy. This requires being thoughtful to understand the levers. Unless you are comparing 2 SP500 index funds, itās rarely as simple as comparing the headline fees. If we all agree that fees are not only critical components of long-term performance while being one of the few things an allocator can control, then misunderstanding them is just negligent. A one size fee doesnāt fit all alternative investments so a one size rule for judging fees cannot also make sense. Compared to the difficulty of sourcing investments and crafting portfolios getting smart about fees is low-hanging fruit.*

**Portfolio theory is not intuitive**

**Series on option greeks**

**The meta of market efficiency**

**Finding edges**

**Being numerate**

**Training, Interviews, & Career**

**Applied Trading Concepts**

**Options and Volatility**

**Personal Finance**

**Real estate and property**

**Investing**

**Opinion**

**Ideas that grabbed my attention**

**My own musings on market dynamics**

**Portfolio Theory and Life**

**Additional Investing Resources**