Thoughts on Levine’s “Best Capital Allocating Robot (U.S. Division)”

Probably too much has been written already about Bernstein’s passive investing is worse than Marxism note, but *shrugs* it’s August so…

Over at Bloomberg, Matt Levine argued persuasively that a lot of what is called passive investing actually involves decisions about capital allocation, and that codifying those decisions (in the sense of computer code) doesn’t mean we’re headed towards a future where companies only receive investment in proportion to their current size.

Continue reading: Thoughts on Levine’s “Best Capital Allocating Robot (U.S. Division)”

Probably too much has been written already about Bernstein’s passive investing is worse than Marxism note, but *shrugs* it’s August so…

Over at Bloomberg, Matt Levine argued persuasively that a lot of what is called passive investing actually involves decisions about capital allocation, and that codifying those decisions (in the sense of computer code) doesn’t mean we’re headed towards a future where companies only receive investment in proportion to their current size.

Continue reading: Thoughts on Levine’s “Best Capital Allocating Robot (U.S. Division)”

As an investment strategy grows more popular, the probability of a comparison involving Marxism apparently approaches 1

Is there a Godwin’s Law equivalent for Marxism? Do we need one since the Law basically means that the longer an argument goes on the more likely we are to reach for extreme examples while in attack or in defence? So, you know, this kind of thing is already covered?

Continue reading: As an investment strategy grows more popular, the probability of a comparison involving Marxism apparently approaches 1

Is there a Godwin’s Law equivalent for Marxism? Do we need one since the Law basically means that the longer an argument goes on the more likely we are to reach for extreme examples while in attack or in defence? So, you know, this kind of thing is already covered?

Continue reading: As an investment strategy grows more popular, the probability of a comparison involving Marxism apparently approaches 1

War and Peace in our time

Or, the sharing economy, Marx and you, from Macquarie’s equities team (with our emphasis):

Louis-Napoleon Bonaparte had the unique distinction of being the last French emperor and the first democratically elected French president. His sweep to power by a popular vote in 1848 was achieved by relying on what Karl Marx described as ‘lumpenproletariat’ vote. What is ‘lumpenproletariat’? In Marxist theory these are sections of society that slipped below conventional occupations, and hence no longer belong to either proletariat or capital and financial classes. As described in greater detail in the note, according to Marx it includes various groups, ranging from “discharged jailbirds and vagabonds to pickpockets, tricksters, pimps, porters, tinkers….disintegrated mass, thrown hither and thither.’ It was the same group that concurrently fuelled the rise of the powerful ‘anarchist’ movement, dedicated to ‘blowing up the system’, heightening social and geopolitical tensions led mostly by well-to-do and educated elite.

Continue reading: War and Peace in our time

Or, the sharing economy, Marx and you, from Macquarie’s equities team (with our emphasis):

Louis-Napoleon Bonaparte had the unique distinction of being the last French emperor and the first democratically elected French president. His sweep to power by a popular vote in 1848 was achieved by relying on what Karl Marx described as ‘lumpenproletariat’ vote. What is ‘lumpenproletariat’? In Marxist theory these are sections of society that slipped below conventional occupations, and hence no longer belong to either proletariat or capital and financial classes. As described in greater detail in the note, according to Marx it includes various groups, ranging from “discharged jailbirds and vagabonds to pickpockets, tricksters, pimps, porters, tinkers….disintegrated mass, thrown hither and thither.’ It was the same group that concurrently fuelled the rise of the powerful ‘anarchist’ movement, dedicated to ‘blowing up the system’, heightening social and geopolitical tensions led mostly by well-to-do and educated elite.

Continue reading: War and Peace in our time