- 01
History of Drawdowns (1929 → 2020)
A century of stock-market drawdowns, on one chart. Six bottoms, six recoveries, one shape.
- 02
What a 50% Drawdown Feels Like
A $100,000 portfolio sliding through the 2008 crash, position by position. The chart drops. So does each line.
- 03
Position Concentration Risk
One stock should never be allowed to decide your year. Here is the math behind why.
- 04
Sector Concentration Risk
Twelve different stocks, all in tech, is one bet wearing twelve costumes.
- 05
The Correlation Trap
Assets that look uncorrelated in calm markets often crash together when it actually matters.
- 06
Single-Stock Tail Risk (Enron, Wirecard, Lehman)
Even great-looking companies sometimes go to zero. The fix is structural, not analytical.
- 07
When Bonds Hedge Stocks — and the 2022 Exception
The bond sleeve is the textbook crash cushion. In 2022 it stopped working — for one specific reason.
- 08
Asset Mix as the Primary Hedge
Across decades of research, the asset-mix decision explains more about portfolio behaviour than any individual stock pick.
- 09
Meta-Lesson: Most Headlines Don't Matter
Decades of investing happen against a daily firehose of news. The discipline is knowing which fraction is signal.
Capstone