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If AI makes everyone a better analyst, what still prevents markets from becoming perfectly efficient? Some thoughts on what changes when information stops being the main constraint.
Primera vez en el año que le piden a sus asesores que usen ChatGPT y es para perseguir opositores. Conmueve.
Presenté un proyecto de resolución y realizamos un pedido de acceso a la información pública para que el Gobierno de Milei explique cómo Flávio Bolsonaro ingresó a la Argentina y salió del país en un avión privado, pese a tener una prohibición judicial de salir de Brasil.
¿Quién autorizó su ingreso? ¿Qué controles se realizaron? ¿Qué funcionarios facilitaron su salida?
La Argentina no puede convertirse en una vía de escape para quienes buscan eludir a la Justicia.
La afinidad política e ideológica de Milei con la familia Bolsonaro no puede estár por encima de sus responsabilidades institucionales. Exigimos que su Gobierno rinda cuentas y explique qué funcionarios intervinieron.
Exactamente lo que voté
La Dirección Nacional de Migraciones informa que a las 22:50 hs del dia 27/10, ingresaron por el paso fronterizo de Puente internacional Tancredo Neves en la provincia de Misiones, los ciudadanos Flavio Nantes Bolsonaro, Fernanda Antunes Figueira Bolsonaro, Carolina Figueira Bolsonaro y Luiza Figueira Bolsonaro, quienes lo hicieron con documentación hábil de viaje sin ningún impedimento legal para el ingreso al país, asimismo los tránsitos fueron registrados por la autoridad de aplicación sin incidentes.
Por su parte, a las 23:30 hs, la comitiva ingresante abordó un vuelo privado despachado por la compañía Baires Fly S.A con destino a la ciudad de Guayaquil, Ecuador, según se informó en el plan de vuelo.
Pasa que los 'periodistas' están acostumbrados a esto. Se equivocaron de gobierno.
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The ETF Map: the-etf-map.vercel.app/
Being right about a market view is only part of the investment decision. The vehicle used to express that view can matter just as much.
There's no shortage of websites providing ETF data. Expense ratios, holdings, AUM, performance, sector exposure and other fund-level metrics are widely available. What is often less straightforward is comparing those funds in context: understanding how two seemingly similar ETFs differ, what risks each structure introduces, how much exposure may already exist elsewhere in a portfolio, and under which market or holding-period scenarios one vehicle may be more appropriate than another.
That was the idea behind The ETF Map — a visual framework for comparing ETF exposures beyond headline performance.
The latest version maps 150 ETFs across metals, energy, crypto, technology, financials, healthcare, consumer staples and the broad market.
The objective is to make some of the less visible parts of ETF selection easier to evaluate.
Two funds can provide exposure to the same area of the market while producing materially different investment outcomes because of differences in:
• underlying exposure and portfolio construction
• expense drag over the intended holding period
• concentration in individual securities
• overlap with positions already held elsewhere in a portfolio
• fund structure and leverage
• liquidity and fund size
• the degree to which the vehicle actually represents the investment view
The map therefore isn't organized around which ETF has recently performed best. Instead, it's designed around implementation risk.
A bullish view on a sector does not necessarily tell you whether the appropriate expression is a broad basket, a concentrated industry ETF, an individual thematic fund, a leveraged vehicle, or an instrument whose underlying holdings may already represent a significant part of your existing portfolio.
The dashboard lets users change what determines the size and shading of each fund, compare portfolio overlap, adjust the intended holding horizon, filter by vehicle structure, and move from a market-level view into individual sectors and ETF briefs.
The objective was to make the step between “I have a view” and “this is how I want to express it” more explicit.
Still a lot to refine.
