How Often to Rebalance Your Portfolio, and How to Do It Without Second-Guessing
Calendar or bands, how often to check, and the exact maths of a rebalance after a boom and after a crash. Plus the cheapest way to rebalance: with new money.
Entries by Spencer Li
How to Size a Credit Spread Using Its Max Loss
Size a credit spread by its max loss, never the premium. The formula, a worked example, iron condors, and the early-assignment risks the max loss hides.
Monthly Market Wrap (March 2026)
The global financial landscape in March 2026 underwent a structural transformation, as a period of relative economic resilience was abruptly superseded by a regime of heightened geopolitical volatility and supply-side inflationary impulses. The transition from a narrative dominated by the potential of artificial intelligence to one centered on kinetic conflict in the Middle East has […]
The Little Book That Beats the Market Summary: Joel Greenblatt’s Magic Formula
Joel Greenblatt’s magic formula in plain English: the 2 numbers it ranks, what the 1988–2004 test showed, and the losing years the book warns about.
Monthly Market Wrap (February 2026)
The month of February 2026 represents a seminal inflection point in American monetary history, defined by a shift from the cautious, data-dependent stance of the Jerome Powell era toward a more disciplined, rules-based doctrine following the nomination of Kevin Warsh as the next Chair of the Federal Reserve. This transition occurred against a backdrop of […]