18 Degree Journal Tunes

This piece, " Memo: Stepping Away from the Index ," details an investor's decision to exit their S&P 500 index fund position, driven by a discomfort with owning a "black box" and a commitment to understanding underlying investments. The author highlights concerns about the index's elevated valuations (P/E ~28, CAPE ~36.5), historical dividend lows (~1.3%), record ne...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

I meant to write a brief introduction about stock exchanges to lead into a stock write-up, but it ended up becoming its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-...

I meant to write a brief introduction about stock exchanges to lead into a stock write-up, but it ended up becoming its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

I meant to write a quick intro about stock exchanges to lead into a stock write-up... but it ended up turning into its own full project. Topics covered include: Introduction What is an Exchange & Instruments History Major Players Exchange Options Business Models Conclusions You can find the full breakdown on Substack here: https://open.substack.com/pub/andreevdan/p/background-the-business-of-e...

18 Degree Partnership Writings Full Letter at: https://open.substack.com/pub/andreevdan/p/memo-the-american-premium-bubble?r=4klyy7&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true