We’re now trying to live with Covid-19 as cases hit all-time daily highs in community cases. I sense a growing frustration with the government in terms of their warnings that Singapore may have to return to some form of restrictions.

I guess the problem is the government wanting to ease restrictions and yet not over-burden the healthcare system – one objective relies on treating Covid as endemic while the other relies on the restrictions that treats Covid as pandemic.

As a country, I think we’re going to have to choose if we want to have the un-vaxxed and those susceptible to Covid-19 take on the risk and cost of getting the virus or going back to a more normal way of life.

Photo by Mikes Photos on Pexels.com

Avoiding single points of failure in pandemic and life
(Abnormal Returns)

A pretty good way to think about life. Which is why the old ways of having a single source of income is such a bad way of operating. Unfortunately, multiple streams of income require greater exertion of effort or some intelligent allocation of capital. Many people just don’t know how to do so.

Inequality, Interest Rates, Aging, and the Role of Central Banks
(The Overshoot)

I heard about this from The Irrelevant Investor. Macro-forecasting is difficult but this is pretty convincing.

Good Insurance vs Bad Insurance
(The Wealthy Accountant)

Good primer on the usefulness of various types of insurance. US context but mostly applicable to any part of the world.

How the Options Market ends up Controlling the S&P 500 in 2021
(Investment Moats)

Do we need to blame Robinhood for this? Interesting dynamics. Also interesting the a part of the derivatives market has grown so huge as to influence the direction of the markets. Could be the kind of structural issue that causes problems in the markets later.

MOST STOCKS ARE DUDS (YES, YOU READ THAT RIGHT)
(Evidence Investor)

Yup…which is why you should never trust an investment course that promises you to pick stocks unless they show you an audited P&L of a portfolio of ALL their picks. The returns should be presented in terms of the rolling returns over a long enough time period.

Pretty sure 9 out of 10 of all the courses that I seen being advertised in Singapore fails to meet this requirement.