Any good investing books published post-COVID-19?

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BogleBuddy12
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Joined: Mon May 18, 2015 4:42 pm

Any good investing books published post-COVID-19?

Post by BogleBuddy12 »

Hi, I am a big fan of books written by Swedroe, Malkiel, Ferri, Bernstein, etc. Are there any good investing books written after Covid-19 changed the world? I would love to read books that are updated to include thoughts and analysis on the markets post-covid, views on the current interest rates, portfolio advice, etc. Thanks.
TravelGeek
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Joined: Sat Oct 25, 2014 3:23 pm

Re: Any good investing books published post-COVID-19?

Post by TravelGeek »

We are not post-Covid yet. Perhaps a bit too early to look for authors that have worked out how the world has changed.

And as this is bogleheads.org, do you expect Covid to change the standard bogleheads investment strategy?
Topic Author
BogleBuddy12
Posts: 403
Joined: Mon May 18, 2015 4:42 pm

Re: Any good investing books published post-COVID-19?

Post by BogleBuddy12 »

TravelGeek wrote: Tue Apr 06, 2021 3:04 pm We are not post-Covid yet. Perhaps a bit too early to look for authors that have worked out how the world has changed.

And as this is bogleheads.org, do you expect Covid to change the standard bogleheads investment strategy?
Certainly some writers have changed their approaches as the world outlook evolves. For example, Burton Malkiel no longer endorses Total Bond Market. Which was a major change for many of his readers.
typical.investor
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Joined: Mon Jun 11, 2018 3:17 am

Re: Any good investing books published post-COVID-19?

Post by typical.investor »

BogleBuddy12 wrote: Tue Apr 06, 2021 3:02 pm Hi, I am a big fan of books written by Swedroe, Malkiel, Ferri, Bernstein, etc. Are there any good investing books written after Covid-19 changed the world? I would love to read books that are updated to include thoughts and analysis on the markets post-covid, views on the current interest rates, portfolio advice, etc. Thanks.
Well, I think you might want to look at if the alternatives market by Swedroe as suitable replacements for safe bonds really held up in the Covid crash. I don't really expect a critical and realistic view of their performance relative to the promises to get published.

So yeah, the question I want answered too is how will long term treasuries do going forward. Will they provide ballast if range bound (say1% in bad times 3-4% in good ones - I think so)? Are we going to see rates spikes uncontrollably (I say no)? Has US strength in tech stocks and what seems to be their heightened importance now changed the calculus for asset allocation (for those of us who believed in international)? What will the dollar do?

And cryptos? I am skeptical based on their fundamentals (high transaction costs, high energy costs, lack of security), but am I right?

And factor investing... Large prolonged drawdowns (and massive tails) were always knows to be a risk. How has the view of multi-factor portfolios changed. I'm not really seeing momentum balancing off value and it seems that factors are all tied into the growth/rate environment (with different factors doing will in different times of the business cycle). The promise was same volatility with higher returns or same returns with lower volatility. Vanguard US Multifactor ETF shows lower returns with higher volatility. OK, that's only three years but I wonder if views on the stated strong odds of seeing outperformance in any 5 year period have changed.

And interval funds? Have they really lived up to their promise?

I want answers too!!!
Funancials
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Joined: Sat Feb 17, 2018 2:09 pm

Re: Any good investing books published post-COVID-19?

Post by Funancials »

Morgan Housel’s book The Psychology of Money was released late 2020. Good book and easy read for anyone interested in personal finance. I think it had some commentary around Covid, but probably not what you’re looking for.

Here are a few blogs I find myself reading most often for post-Covid hot takes:

- LynAlden.com
- aWealthofCommonSense.com
- Collaborative Fund’s blog (also Morgan Housel)
Valuethinker
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Re: Any good investing books published post-COVID-19?

Post by Valuethinker »

typical.investor wrote: Tue Apr 06, 2021 8:44 pm

And cryptos? I am skeptical based on their fundamentals (high transaction costs, high energy costs, lack of security), but am I right?

And factor investing... Large prolonged drawdowns (and massive tails) were always knows to be a risk. How has the view of multi-factor portfolios changed. I'm not really seeing momentum balancing off value and it seems that factors are all tied into the growth/rate environment (with different factors doing will in different times of the business cycle). The promise was same volatility with higher returns or same returns with lower volatility. Vanguard US Multifactor ETF shows lower returns with higher volatility. OK, that's only three years but I wonder if views on the stated strong odds of seeing outperformance in any 5 year period have changed.

And interval funds? Have they really lived up to their promise?

I want answers too!!!
Re cryptos. There's nothing as yet that says this is an "asset" other than purely for speculative purposes.

If it evolves to something else, I will "invest" in it by using it to pay for things. In the same way that I "invest" in USD, CAD, GBP sterling & Euros.

Factor investing strikes me as largely historic data mining (not deliberate). Factors are discovered, and then arbitraged away by the sorts of hedge funds that can hire newly minted Chicago Phds in Finance.

We are "long only" investors so a lot of the anomalies we invest in cannot be fully exploited on the long side.

BTW I tilt to value, or as St Augustine said "Lord make me chaste... But not yet."

The post Covid world is like the pre Covid world, except our economies are going to be less "efficient" as we invest in protections, supply chain security, ongoing travel restrictions etc. Maybe in 4-5 years we will have vaccinated the world and be safer, but conversely we will have spent money "inefficiently" in terms of overall productivity.

Resilience will take precedence over efficiency for a while. The political ramifications in terms of border controls and population monitoring may be much more important in the long run than any other things.

I make analogies to the 2 Energy Crises - 1973 & 1979 and it took several years for the world economies to adjust themselves fully to much higher oil prices.

It does mean interest rates are likely to stay at the near zero level for a lot longer, particularly in Europe which is economically the worst hit.
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