Farnam Street Investments commentary for the month of July 2020, discussing William J. Bernstein's book called Deep Risk and which is safer, stocks or bonds?

Q2 2020 hedge fund letters, conferences and more

Deep Risk

The inhabitant of any city could order on his phone, sipping his morning coffee in bed, the various products of the whole world, and in such quantity as he sees fit, and reasonably expect their early arrival on his doorstep. He could at the same moment and by the same means adventure his wealth in the natural resources and new enterprise of any quarter...