"All Bull Markets Run Out Of Money": Dave Collum
"The pain is not over when you squat over the secular bear trap, and it clamps you in the groin."
The following is an excerpt from my friend Dave Collum’s Year In Review for 2023 that lays out his (1) current investments and (2) thought process on the market going forward into 2024.
David B. Collum is an economic commentator, chemist, Betty R. Miller Professor of Chemistry and Chemical Biology at Cornell University. He holds a PhD, Columbia University, MS, Columbia University, MA, Columbia University and BS, Cornell University.
Dave’s opinions are often well off the beaten path, but his investing outlook is unique and, in my opinion, extremely sharp. Dave can be followed on Twitter here.
Investing
Dave Collum is easily the best single investor I have come across.
–Bob Moriarty
I live on Cayuga Lake in a house that is a lifestyle changer, but it is threefold more expensive than I needed, which forces me to call it a real estate play. I use Zillow to track it on my balance sheet. Cash in TIAA and other short-term bonds are returning about 3.5%. I also have 15% of my wealth in a fund that is not under my control (white privilege from my parents) and is an old-man 40–60 equity-bond split. It got beat up last year reaching for yield; it was OK this year. Some selected risk assets held during 2023 are below, many of which are relatively new and rather speculative. I also have some other tobacco and energy stocks that I have owned for years: