Disclosable
(the SEC reads this too)
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In Progress

In Progress
Photo by Milad Fakurian / Unsplash

Stuff I am thinking about (but haven't had a chance to write about, yet):

  1. Privacy by proxy - being online without compromising personal privacy will be ubiquitous in the next 5 years (e.g.: private relay by Apple on steroids). One of two things happens: 1) online privacy becomes paramount, or 2) online privacy no longer exists. I doubt it's #2.
  2. Artificial financial intelligence - we're not far from retail investor AI-assisted trading models. Soon, AI agents will trade on behalf of humans and will generate greater returns on average. What happens when we have AI agents protecting their alpha against other AI agents protecting their alpha?
  3. Data aggregation goes open source - BBG terminals that buy-side firms use (to about 40% of their capacity), which retail investors never touch, will be replaced by open-source data aggregators that do 80% of the work for less. Over time, this will become commoditized and eventually free or nearly.
  4. How humans crave consensus more than truth.