When do tax-exempt money market funds actually deliver an edge? This Asymmetry Observation breaks down the after-tax math behind taxable vs. tax-exempt cash yields, explains why “tax-free” often isn’t free, and shows how marginal tax rates and state taxes determine when the geometry finally flips. Read it here: Asymmetry Observation: When “Tax-Free” Isn’t Free — and When It Is
Category Archives: Definitions
Rugged individualism
Rugged individualism was the phrase used often by Herbert Hoover during his time as president. It refers to the idea that each individual should be able to help themselves out, and that the government does not need to involve itself in people’s economic lives nor in national economics in general.
Rugged individualism is the belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal.
Source: https://en.wikipedia.org/wiki/Rugged_individualism
What is the Alternative?
Anything beyond buying and holding stocks and bonds is called “alternative” investments, alternative investment strategies, or alternative trading strategies.
What is “alternative”?
- offering or expressing a choice
- not usual or traditional
- existing or functioning outside of the established society
- different from the usual or conventional
Source: http://www.merriam-webster.com/dictionary/alternative
I like it.
Science: systematic study of the structure and behavior…
Investment management, executed properly, may be more scientific than you think.
Outcome bias
The outcome bias is an error made in evaluating the quality of a decision when the outcome of that decision is already known. Outcome bias is the tendency to judge a decision based on the outcome, rather than on the quality of the decision (using information known) at the time it was made.
Fear and Greed
What is “News”?
News is Information not previously known to someone. New information, newly received information, or noteworthy information, especially about recent or important events.
For example:
“I’ve got some good news for you”
“This was hardly news to her”
ASYMMETRY® Observations 
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