Time Arbitrage
Most capital is graded quarterly, so prices overweight the next earnings report and underweight the next decade. An investor who can genuinely hold for years buys that neglect at a discount. The edge is structural rather than intellectual: it exists only if funding, clients and temperament all permit sitting still.
5 books · 5 people behind it · 4 resources
Start here
- The Psychology of MoneyMorgan Housel, 2020
- The Most Important ThingHoward Marks, 2011
- Stocks for the Long RunJeremy J. Siegel, 1994
The people behind it 5
Each person holds a book in this entry or names it in their own tags.
Investors 2
Founders 1
Executives 1
Journalists 1
Resources 4
- Selling OutHoward Marks · memo · Why interrupting compounding usually costs more than it saves.
- Competitive Advantage PeriodMichael J. Mauboussin · paper · How long excess returns can plausibly last.
- Half Life: The Decay of KnowledgeShane Parrish · essay · How fast facts and advantages expire.
- Expiring vs. Permanent SkillsMorgan Housel · essay · A Lindy test for which knowledge keeps paying.
Books 5
John C. Bogle · 2012
