Investor DNA 01/10/2020 — Money Stuff: People Are Worried About Index Funds

Dear Reader

TGIF.

Ships Ahoy. Listened to Tim Hartfods Podcast, Cautionary Tales’ episode named DANGER: Rocks Ahead!, about the SS Tory Canyon ship wreck off of England. The series focuses on learning from other peoples mistakes. This episode is a lesson about what I call committment risk; Tim calls it get-there-itis.

True pleasure reading er listening. I was just acquainted with Sloan Ortel. He puts out a podcast called Free Money. Ther latest one is called Five Forces Fighting Free Money. It is worth a listen especially the segment that is reviewing the Mckinsey report, “Is big really beautiful? The limits of pension consolidation.” Would love to sit down with her and talk over beer/wine, and discuss the structural issues of the pension markets. Does anyone know him?

Severe disagreement: A consultant just published a paper claiming”…the drivers for operational change will stem from the increasingly sophisticated front office, impacts from vendor consolidation, a maturing outsourcing market and heightened expectations of services, and the continuance of modernization-based transformation activities rather than bleeding edge evolution….” I could NOT disagree more. Front offices have always been sophisticated, only now they are spending money on affordable bleeding-edge technologies to modernize, and outsource more an more services away from old stodgy companies, custodians, and consultants that used to…