Monthly Archives: September 2021

Making Fun of Fundamental investors – The Frank Thelen edition

Frank Thelen is a household name in Germany. As part of the German version of “Shark Tank” (which he left in 2019), he clearly became the Venture Capital investor with the biggest public exposure (the guy in the back in the middle):

Recently, Thelen announced that he will launch the “German Version” of Ark Invest which he calls 10xDNA Fund. The idea behind is that he, as successful VC investor is able to run a big fund of public stocks that aims at “disruptive technologies”.

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Some links

HBR (and Bain) on why Founder led companies perform better

An interesting deep dive into the Market Panic of 1792

Very comprehensive overview how the Venture Capital landscape has changed over the past few years

Good profile of ETF tech guru Cathy Wood (ARK)

The Lightning network, Bitcoins answer to scaling issues, still doesn’t work

AQR thinks that shorting (high emission) stocks should decrease a portfolio’s carbon footprint

Microsoft did a big study on remote working on its own work force. The results are not positive.

Summer Reading summary

Over (spring and) summer, I managed to read a couple of books that might be interesting for my readers. This time a try a new format with a shorter summary on a couple of books compared to the more detailed single reviews I did in the past. I hope this is helpful nevertheless.

  1. The Rise of Carry


“The Rise of Carry” is a more macro oriented book written by two former Hedge Fund “dudes”. Their thesis is that a significant part of today’s market activity is driven by “Carry Trades”, which are defined as leveraged bets with an asymetric return profile (“fat tails” on the downside). It is a very interesting approach to look at markets. The book was written well before Bill Hwang’s Archegos Capital collapsed due to …leveraged bets.

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Some links

Great deep dive from Mathew Ball on Netflix and Gaming

An interesting look at “alternative performance measures” that are used by Tech companies

Highly recommended: AMA with Vitalek Buterin on Twitter (only people he follows could ask, first question from Elon Musk)

Thanks to Elon Musk, in theory “Space Base load Solar” could become a thing

6M reports from TGV Intrinsic ( Frontier Digital Ventures, VEF) and TGV Compound Interest (Amaysim, EQS, FEMSA)

A pretty cautious take on Chinese stocks

Spotify needs to take social streaming (and TikTok) very seriously