The Intelligent Asset Allocator Summary: William Bernstein on Knowing Your Risk Before You Buy
A summary of William Bernstein’s The Intelligent Asset Allocator: Uncle Fred’s coin toss, why average return misleads, and his six-step road map.
Entries by Spencer Li
Book Summary: The Black Swan by Nassim Nicholas Taleb
The Black Swan by Nassim Taleb: Summary, 10 Key Ideas, and What It Means for Traders Last updated: 15 September 2026 · By Spencer Li, CFTe The Black Swan, by Nassim Nicholas Taleb, is a book about rare, high-impact events that nobody saw coming, and why we are so bad at preparing for them. A […]
Book Summary: Capital in the Twenty-First Century by Thomas Piketty
Capital in the Twenty-First Century (Piketty): Summary, Key Ideas, and What It Means for Investors Last updated: 21 August 2026 · By Spencer Li, CFTe “Capital in the Twenty-First Century” by Thomas Piketty argues that wealth grows faster than wages, so without deliberate intervention, capital piles up in fewer and fewer hands over time. His […]
Book Summary: The Wealth of Nations by Adam Smith
The Wealth of Nations by Adam Smith: Summary, Key Ideas, and What It Teaches Traders Last updated: 27 August 2026 · By Spencer Li, CFTe The Wealth of Nations, written by Adam Smith in 1776, is the book that laid the foundation for modern free-market economics, and its core idea is the “invisible hand”: individuals […]
Bollinger on Bollinger Bands Summary: John Bollinger’s Rules, and Why a Band Tag Is Not a Signal
A summary of John Bollinger’s book: why a band tag is not a signal, how %b and BandWidth work, the Squeeze, the head fake and his three methods.