Today’s Newsletter is Sponsored by Daloopa

You don’t have to be an investment analyst to know that data entry sucks. If you are an investment analyst, however, meet Daloopa.

Daloopa increases the velocity of a team’s idea generation at scale. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print.

  • Make the most informed investment decision knowing that Daloopa captures every reported number, including from footnotes, MD&A’s, and investor presentations
  • Auditable numbers in Daloopa’s data sheets mean that you are able to easily verify numbers and ensure accuracy
  • Update models quickly in a single click in minutes after the results are out
  • Easily build and maintain custom Excel dashboards to spot industry trends and outliers


A History of Investment Vehicles

Happy Sunday, readers! Apologies for not sending a newsletter out last week. I had the privilege of guest lecturing at Yale’s School of Management again for Jim  Chanos’ class on the history of fraud. That class is quite literally the perfect course for a financial history enthusiast like myself.

While I don’t have a video of my guest lecture to share, anyone that is interested in Jim’s course should check out my first financial history course on Bubbles, Manias & Fraud. Jim gave a riveting lecture on the history of his own short bets, financial history, and more.

For today’s newsletter, I’m excited to share a fascinating conversation I had with Peter Lazaroff about the evolution of investment vehicles, FTX’s collapse, and more. Peter and I had a great time discussing these topics, and I think you’ll find the content just as interesting as we did. If you’re curious about the history of investment vehicles – from the first mutual fund in 1774 to Custom Indexing in 2019 – then this is the episode for you.

You can also find my articles on this same topic here:

I hope you enjoy my discussion with Peter Lazaroff!