Investor DNA 01/14/2020 — The Best and Worst Hedge Funds of 2019?

Dear Reader

In town this week so if we need to meet….. let me know.

On your Marks — Howard Marks is back w a new memo. Read it in my library. If you havent registered, you may have to…

Libraries: many of you have had requested over the last quarter access to my library. My email was disconnected so I failed to respond to your request. Contact me and let me help you.

Research Affiliates has released the new data for its “Asset Allocation Interactive” as of 12/31/2019. Have fun folks.

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 him and talk over beer/wine, and discuss the structural issues of the pension markets. Does anyone know him? Gues what as the result of my shouout, he reached out and we’re gonna have a meet….. I love this network.