Quiet heroes
Too often, we seem to confuse heroism with heroics, significance with pomp and flash.
The Art of Boring™ was created for curious and passionate investors. We share strategies, frameworks, and insights to help readers and listeners make better investment decisions. Our aim? To provide some bottom-up, long-term investing signal to cut through the short-term noise.
Too often, we seem to confuse heroism with heroics, significance with pomp and flash.
When we open our minds to a wide set of possibilities—including ideas that initially seem impossible—we make it easier to put the odds in our favour over time.
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
Too often, we seem to confuse heroism with heroics, significance with pomp and flash.
When we open our minds to a wide set of possibilities—including ideas that initially seem impossible—we make it easier to put the odds in our favour over time.
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
As an avid basketball fan, I have been enjoying the recent success of the Golden State Warriors, who currently hold the best record in the NBA’s Western Conference.
Financial markets function relatively well most of the time; it is only on occasion that markets break, the system goes awry and crises ensue.
Greece has been struggling with some manner of financial crisis for almost five years. The situation has become worse of late due to the fallout from the January 2015 election when the leftist party Syriza rose to power under an anti-austerity mandate.
The Chinese stock market has been very hot as of late. Many Chinese indices are up dramatically over the last twelve months.
This was my first lesson in India. When you arrive in the country, you don’t just land at the airport, India lands on you.
If a person's legacy is to be measured by his contributions to society, then Lee Kuan Yew ranks among the great heroes.
The Oilers allowed Gretzky to play to his strengths. In the language of our firm, they allowed him to focus on his “Area of Genius.”
When you say yes to doing something you’re not good at, you are also saying no to something you are.
“Just because something isn’t a lie does not mean it isn’t deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction.”
For a country whose population is smaller than that of NYC, the Kingdom of Denmark is getting a lot of press these days.
There is something surreal about cycling alone on a mountain at 3:00 A.M. The trees loom in the darkness, lit only in passing by the lights on your helmet and handlebars.
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help...”
As an avid basketball fan, I have been enjoying the recent success of the Golden State Warriors, who currently hold the best record in the NBA’s Western Conference.
Financial markets function relatively well most of the time; it is only on occasion that markets break, the system goes awry and crises ensue.
What DevOps is and why it’s a theme with investment potential.
On building a “global investment franchise” and balancing the trade-offs between creativity, efficiency, and process to build a consistent environment for better investment decisions.
Russia, the potential parallels to Taiwan and China, and macro to micro portfolio considerations in an inflationary environment.
CIO Paul Moroz shares his take on what’s happening in the markets, some of the underlying factors behind recent performance, and a reminder that the wheels of capitalism will continue to turn.
Portfolio Managers Grayson Witcher and Colin Wong share market observations, industries where fundamentals are shifting, and a few recent additions to the portfolio.
Jim Hall (chair, head of our risk management process, and portfolio manager) shares his overall observations on prevailing macroeconomic risks—and the effects on our process and the EAFE large cap portfolio.
How we achieve balance in the portfolio, manage hubris, and have accounted for inflation risk in our investment process.
Chief Investment Officer, Paul Moroz, reflects on notable learnings from 2021 and how time and experience still clarify the most in investing—and life.
Our systematic assessment framework to narrow the probabilities in analysing fast-growing technology companies in an effort to improve our odds of identifying those elusive “holy compounders.”
The major themes of Q4 and a look ahead to 2022.
Inflation cycles throughout history, Keynes vs. monetarists, and why the enemy is…still us.
Global debt, China’s credit cycle, shifting monetary and fiscal policy objectives, and the three scenarios we are thinking about this year.
What DevOps is and why it’s a theme with investment potential.
On building a “global investment franchise” and balancing the trade-offs between creativity, efficiency, and process to build a consistent environment for better investment decisions.
Russia, the potential parallels to Taiwan and China, and macro to micro portfolio considerations in an inflationary environment.
CIO Paul Moroz shares his take on what’s happening in the markets, some of the underlying factors behind recent performance, and a reminder that the wheels of capitalism will continue to turn.
Portfolio Managers Grayson Witcher and Colin Wong share market observations, industries where fundamentals are shifting, and a few recent additions to the portfolio.
Jim Hall (chair, head of our risk management process, and portfolio manager) shares his overall observations on prevailing macroeconomic risks—and the effects on our process and the EAFE large cap portfolio.
How we achieve balance in the portfolio, manage hubris, and have accounted for inflation risk in our investment process.
Chief Investment Officer, Paul Moroz, reflects on notable learnings from 2021 and how time and experience still clarify the most in investing—and life.
Our systematic assessment framework to narrow the probabilities in analysing fast-growing technology companies in an effort to improve our odds of identifying those elusive “holy compounders.”
The major themes of Q4 and a look ahead to 2022.
Inflation cycles throughout history, Keynes vs. monetarists, and why the enemy is…still us.
Global debt, China’s credit cycle, shifting monetary and fiscal policy objectives, and the three scenarios we are thinking about this year.