Finance professional by trade, market outsider at heart. I am focused on uncovering opportunities, sharing my research, and helping fellow investors navigate the markets to build lasting wealth. I avoid conventional labels like 'growth' or 'value,' believing that the most sensible approach is simply buying businesses for less than they are worth—with growth being an essential component of that value. Heavily influenced by Seth Klarman, I focus on the price paid as the only variable an investor can truly con ...

Market Efficiency - The efficient market hypothesis (EMH) posits that the market is generally efficient [1] - EMH identifies three forms of market efficiency: weak, semi-strong, and strong [1]

From medicine to finance, AI is radically improving market efficiency. The days of the know-nothing consumer are over https://t.co/Adep3vhZQi ...

Markets reward the real, not the flawless. https://t.co/dd3EeWgGdG ...

One possibility is that the market for investing talent has become incredibly efficient. (via @opinion) https://t.co/4w02OJVAKr ...

Core Viewpoint - The First Trust Japan AlphaDEX ETF (FJP) is a smart beta ETF that aims to provide broad exposure to the Asia-Pacific (Developed) ETFs market, utilizing a unique stock selection methodology to potentially outperform traditional market cap weighted indexes [1][5]. Fund Overview - Launched on April 18, 2011, FJP has accumulated over $202.58 million in assets, categorizing it as an average-sized ETF in its segment [5]. - The fund is managed by First Trust Advisors and seeks to match the performance of the NASDAQ AlphaDEX Japan Index, which employs the AlphaDEX stock selection methodology [5]. Cost Structure - FJP has an annual operating expense ratio of 0.80%, making it one of the more expensive options in the ETF space [6]. - The fund's 12-month trailing dividend yield is reported at 2.16% [6]. Holdings and Sector Exposure - The top holding in FJP is Subaru Corporation (7270.JP), accounting for approximately 1.83% of total assets, followed by Sugi Holdings Co., Ltd. and Central Japan Railway Company [7]. - The top 10 holdings collectively represent about 17.54% of the fund's total assets under management [8]. Performance Metrics - As of September 10, 2025, FJP has gained approximately 29.42% year-to-date and 29.15% over the past year [9]. - The ETF has traded within a range of $47.79 to $67.08 over the last 52 weeks [9]. - FJP has a beta of 0.58 and a standard deviation of 20.36% over the trailing three-year period, indicating a medium risk profile [10]. Alternatives - Other ETFs in the Asia-Pacific (Developed) segment include JPMorgan BetaBuilders Japan ETF (BBJP) and iShares MSCI Japan ETF (EWJ), with assets of $14.11 billion and $15.51 billion respectively [12]. - BBJP has a lower expense ratio of 0.19%, while EWJ charges 0.50%, presenting cheaper alternatives for investors [12].

Market Cap Comparison - Cardano's market capitalization is two times that of Hyperliquid [1] - XRP's market capitalization is 60 billion USD higher than Solana (SOL) [1] Call to Action - The market needs to be more efficient, and it is up to the reader to make it so [1] Disclaimer - This is not financial advice (NFA) [1]

Core Insights - The iShares MSCI USA Quality GARP ETF (GARP) was launched on January 14, 2020, and offers broad exposure to the Style Box - All Cap Growth category of the market [1] Fund Overview - GARP is managed by Blackrock and has accumulated over $625.49 million in assets, making it an average-sized ETF in its category [5] - The fund aims to match the performance of the MSCI USA Quality GARP Select Index, which consists of U.S. large and mid-cap growth stocks with favorable value and quality characteristics [5] Cost Structure - GARP has an annual operating expense ratio of 0.15%, making it one of the least expensive products in the smart beta ETF space [6] - The fund has a 12-month trailing dividend yield of 0.38% [6] Sector Allocation and Holdings - The Information Technology sector represents 47.3% of GARP's portfolio, followed by Consumer Discretionary and Financials [7] - Nvidia Corp (NVDA) accounts for approximately 5.71% of the fund's total assets, with the top 10 holdings making up about 40.72% of total assets under management [8] Performance Metrics - As of August 25, 2025, GARP has increased by roughly 10.42% year-to-date and is up approximately 20.72% over the past year [10] - The fund has traded between $45.13 and $62.54 in the past 52 weeks, with a beta of 1.14 and a standard deviation of 24.65% over the trailing three-year period [10] Alternatives - Other ETFs in the same space include iShares Morningstar Growth ETF (ILCG) and iShares Core S&P U.S. Growth ETF (IUSG), with assets of $2.94 billion and $24.34 billion respectively [12] - Both ILCG and IUSG have an expense ratio of 0.04%, presenting lower-cost options for investors [12]

Apparently I missed some huge drama in the Solana world todayI don’t think my life materially changed?Seems that when everyone is waiting on a known event to either happen or not happen the trade is already priced in.One of the few spots in crypto where the market actually is efficient is a memecoin deployer going on a stream ...

Core Insights - The Schwab Fundamental U.S. Broad Market ETF (FNDB) is designed to provide broad exposure to the Style Box - All Cap Value category and was launched on 08/13/2013 [1] - FNDB is a smart beta ETF that seeks to outperform traditional market-cap weighted indexes by focusing on specific fundamental characteristics [3][4] - The fund is managed by Charles Schwab and aims to match the performance of the Russell RAFI US Index [5] Fund Details - FNDB has accumulated over $965.89 million in assets, making it one of the larger ETFs in its category [5] - The ETF has an annual operating expense ratio of 0.25%, which is considered low compared to other funds [6] - The fund offers a 12-month trailing dividend yield of 1.67% [6] Sector Exposure and Holdings - The Financials sector constitutes approximately 17.3% of FNDB's portfolio, followed by Information Technology and Industrials [7] - Apple Inc (AAPL) is the largest holding at about 3.59% of total assets, with Microsoft Corp (MSFT) and Exxon Mobil Corp (XOM) also among the top holdings [8] - The top 10 holdings represent about 18.82% of the fund's total assets under management [8] Performance Metrics - FNDB has gained roughly 7.75% year-to-date and approximately 14.22% over the past year as of 08/14/2025 [10] - The ETF has a beta of 0.94 and a standard deviation of 15.27% over the trailing three-year period, indicating medium risk [10] - With around 1660 holdings, FNDB effectively diversifies company-specific risk [10] Alternatives - Other ETFs in the Style Box - All Cap Value segment include Fidelity High Dividend ETF (FDVV) and iShares Core S&P U.S. Value ETF (IUSV), which have larger asset bases and lower expense ratios [12]