Kindly Stop Saying The Efficient Market Hypothesis is Dead

May 14, 2020 | Richard Meadows

There are whispers that the Efficient-Market Hypothesis (EMH) is dead.

Smart people say the EMH may have been the real victim of the coronavirus. These people, or their friends, were able to get ahead of the recent market crash. They sold stocks before the market reacted, or shorted them, or bought ‘put’ options, and made handsome profits.

They beat the market without having any special information! They were reading the same news and reports as everyone else. They made a profit by acting on public information that was right there for anyone to see. And so, the EMH is dead, or dying, or at the very least, has a very nasty cough.

I say this is wishful thinking: rumours of the death of efficient markets are greatly exaggerated.

The Best of the Best Books I Read in 2019

December 18, 2019 | Richard Meadows

Last year I finally cracked my goal to read 100 books. After completing the challenge, I decided that I wasn’t going to get too hung up on the number this year.

Sure enough, I dialled it back: I only got through 56 books in 2019, which feels a little disappointing.

But having looked through my list, I realised that this was still a great year for quake reading. As always, it was agonising trying to choose between a worthy field, but I’ve winnowed it down to my top 10.

These are the books that blew my mind, made me howl, or filled my notebook to overflowing. In no particular order:

The Best of the Best Books I Read in 2018

December 13, 2018 | Richard Meadows

This is normally my favourite post to write. But now I have to somehow pick out the highlights from 100+ contenders. Most of these books were curated and recommended by Deep Dish readers and other people of impeccable taste. I already knew they were going to deliver. And they did!

After much internal debate and killing of darlings, I’ve managed to narrow it down to the top 10. These are the books that blew my mind, made me howl, or filled my notebook to overflowing. In no particular order:

The Madness Of Crowds

July 8, 2018 | Richard Meadows

I propose this general principle of travel:

If you skip the top-tier or ‘must-do’ attraction, you will usually have a way better time at a fraction of the price.

I’ve noticed this more times than I can count, but was too scared to say anything out loud in case I looked like an uncultured idiot. Privately, I think of most of these brand-name experiences as expensive box-checking exercises: been there, done that, bought the T-shirt. I wonder if we’re trapped in an Emperor’s New Clothes situation, where everyone is secretly underwhelmed, but no-one wants to defect from the agreed-upon narrative. Instead, we post up our happy snaps and loudly reassure each other how great it was…

The Best of the Best Books I Read in 2017

December 15, 2017 | Richard Meadows

It’s been another self-indulgent year of funemployment for yours truly, which means I’ve had the time to read as much as I want; basically cruising around the library with my mouth open like some sort of bibliophilic basking shark. Since most people don’t have this luxury, I hope I can provide a small public service in filtering out the tastiest morsels that have passed through the bristle-like gill rakers encircling my giant, unhinged jaw…

The Worst Investment Ever: How I Lost $10,000 Catching a Falling Knife

Last updated: July 3, 2020 | Published on September 8, 2017 | Richard Meadows

It’s pretty embarrassing to air this story in public, but it’s for a good enough cause that I’ve decided to bite the bullet. Back in 2015, I was still picking individual stocks, and doing pretty well for myself. I probably thought I was hot shit. That is, before I made a series of really dumb mistakes which cost me US$10,000.

I would have reached my six figures savings goal much faster if I hadn’t screwed up, but I didn’t lose any sleep over the whole mess. In fact, I’m actually kind of glad it happened. I might be a slow learner, but hopefully you can wise up sooner than I did…

The Best of the Best Books I Read in 2016

December 19, 2016 | Richard Meadows

Goodreads just informed me I read 65 books this year. That’s miles away from my goal – which was to crack triple figures – but it’s still been a hell of a good year. About two thirds of the books I read were really good. From those, I’m skimming off the absolute crème de la crème to recommend to you.

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