10 IDEAS DAY 1

  1. 1.
    (Markets) SAC and Renaissance Tech are both examples of hedge funds that have generated alpha by leveraging investment banking relationships. The former wrt sell-side analysts and bankers providing mnpi info, the latter with DB barrier option construct:
  2. 2.
    (Markets) In general, you make the most money in the long run in deals when you're providing some solution to each parties' problems e.g. Public activists resolving board level conflicts as a third party. Except in distress debt when the alpha comes from the exercise of a cyclical "capital structure put-option" i.e. screwing junior creditors.
  3. 3.
    (Current Events) Russian doping scandal is probably bullshit. Correlation of gold medals and doping violations shows US is huge outlier, where PED usage is pretty standard.
  4. 4.
    (Markets) Broadcast distribution stocks are probably a value-trap and will be a great short at some point.
  5. 5.
    (Economics) Contrarian view: Endemic corruption revelations in Brasil are signs of a country's citizens demanding institutional legitimacy and are long-term very positive.
  6. 6.
    (Markets) Really how contrarian is Cable One's strategy of de-emphasizing video subs?
  7. 7.
    (Economics) How many legal cartels are there in the US? I can name two: ANSAC (Trona Soda Ash) and the Raisin industry. Probably a good idea to invest in those industries.
  8. 8.
    (Journalism) Jonah Peretti is hugely underrated and will go down as a genius media visionary.
    His interview with Felix Salmon is amazing.
  9. 9.
    (Podcasts) Marc Maron interview with Steve Albini was really good wrt talking about love of craft. Also shows advantages of embracing learning new skills without fear.
  10. 10.
    (Podcasts) Surprisingly Awesome could be first Gimlet flop. Amazing considering starpower of Adam McKay and journalistic chops of Adam Davidson. The natural and humble "sense of wonder" aesthetic in other Gimlet shows might just not work with "two chill bros." I'll give it one more episode.