by Joseph "Bo" Billeaud | Feb 11, 2026 | Blog, Bo's Corner
Has there ever been an investable asset that has gotten a worse rap? The chart below shows the performance of gold, dating from 1972 through 2025. Point to point, not too bad at all. And yet, despite this performance record, for the entire 40-year period that I have...
by Joseph "Bo" Billeaud | Jan 20, 2025 | Blog, Bo's Corner
Academics define risk as “portfolio volatility”, which they call “beta”. They do that because they are, well, academics. By equating volatility to risk, they can assign Greek letters to their arithmetic, and write lots of academic papers on the subject. ...
by Joseph "Bo" Billeaud | Aug 21, 2024 | Blog, Bo's Corner
Let me tell you about one thing you never ever will want to do. You don’t want to have to get rich twice. Don’t do it. Once you’ve achieved a comfortable level of wealth, don’t do anything that could threaten that position. ********************* In 2007,...
by Joseph "Bo" Billeaud | Aug 5, 2024 | Blog, Bo's Corner
You all remember William of Occam, don’t you? Sure you do! William of Occam was one of the major figures of 14th century medieval thought and is mostly remembered for his principle known as Occam’s Razor. This principle states that (and I’m paraphrasing...
by Joseph "Bo" Billeaud | Jun 12, 2024 | Blog, Bo's Corner
We’re all familiar with the butterfly effect. You know, a butterfly flapping its wing in Brazil ultimately causes a tornado in Texas. The butterfly effect is a fascinating concept that illustrates how the smallest of actions can have significant consequences in...
