#113: What I Learned In 2020 — John Hempton

John Hempton is co-founder and Chief Investment Officer at Bronte Capital.

Show notes

Selected links

• Follow John: Blog | Twitter
• ‘Approaches to Studying Policy Representation’, paper by David Broockman
• ‘Indebted Demand’, paper by Atif Mian, Ludwig Straub and Amir Sufi
• The Go-Go Years, by John Brooks

Topics discussed

• Lessons from past market cycles. 4:51
• Astarra-Trio. 10:43
• Retail investors: Welcome to the party. 24:14
• When John met Jim (Simons). 28:13
• What is the scent of a market top? 33:00
• Are there any good reasons for believing this time really is different? 40:37
• The Dunning-Kruger effect is everywhere. 52:18
• A behavioural model of the coronavirus. 55:45
• The illusion of the political centre. 1:10:19
• How inequality may be distorting monetary policy, and vice versa. 1:23:00
• SPAC attack. 1:26:03
• The puzzle of Middleby. 1:31:15
• Bull masturbating. 1:33:01
• 2020: a year of puzzles. 1:42:30