The Da Vinci (Investment) Code

By | 2017-11-17T07:09:33+00:00 November 17th, 2017|Global Market Update|

Is art an investment? “Salvatore Mundi” by Leonardo Da Vinci. Source: Wikipedia Leonardo Da Vinci didn’t leave many paintings, perhaps only a couple dozen. So when “Salvatore Mundi,” – commissioned in 1500 and later owned by Charles I and the Duke of Buckingham – resurfaced in 2005, the art world went a little crazy. It was cleaned and restored, and exhibited by London’s National Gallery in late 2011. In 2013 a Russian collector bought it for $127 million. It sold on Wednesday for $450 [...]

The Art of Economics

By | 2017-07-17T12:21:22+00:00 April 13th, 2017|Global Market Update|

What can art teach us about economics? Portrait of Joseph Haydn. Source: Royal College of Music People often discuss the economics of art – how supply and demand can raise the prices of Renaissance or Impressionist works to insane levels, or how ironic it is that great paintings can’t be sold for much while the artists are still alive. But art has something else to tell us about the productive process. There’s a lot that we just don’t understand. For example, in history we [...]

The Compleat Investor

By | 2017-07-17T12:22:40+00:00 August 10th, 2015|Global Market Update|

Is investing an art or a science? Woodcut by Louis John Rhead. Source: Wikepedia In 1653 Izaak Walton published “The Compleat Angler,” a short book on fishing. In this little treatise he compares angling to mathematics – something that can never be fully learned. There’s always a new approach or a new location or some novel piece of equipment. “But he that hopes to be a good angler,” Walton continues, “must not only bring an inquiring, searching, observing wit, but he must bring a [...]

The Learning Discipline

By | 2017-07-17T12:22:41+00:00 July 24th, 2015|Global Market Update|

What’s the key to successful investing? Source: Get Refe There isn’t one key. There are lots of them: understanding ourselves, diversification, setting good goals, managing risk—the list goes on and on. And there are many fruitful investment styles: value, growth, momentum, factors, index investing. Successful investors have to pay attention to lots of things all the time. But when you study great investors like Mario Gabelli or Laura Sloate—the blind stock analyst whose blindness forces her to “see” everything differently—one thing stands out: they’re [...]