My name is Karl-Mikael Syding, “Mike”, or “Sprezza”

I worked as a hedge fund manager during the years 2000-2023 (at  Antiloop and Futuris/Brummer). Before that I worked as an IT analyst starting in 1994, after taking my Masters degree in finance at SSE.

Now, I focus on teaching (link to my investing course in English) what I’ve learned about equity research and investing. C1, do one, teach one, like a surgeon

Check out this text-based interview with me that QI made in January 2024 here:

My 25 MINUTER podcast in Swedish

My appearance (March 2024) on the YouTube and podcast Cash & Soul with host Carl Hall, about childhood trauma, financial success and subsequent spiritual* healing (*that which isn’t material, i.e., not based on little billiard balls orbiting each other).

More is coming: Motgångspodden in Swedish, and an interview in a German magazine (but I’ll publish the interview in video/pod in English too)

If you are interested in investing and want to learn more…

…you should check out The Investing Course, which is my 6-week program to turn a complete novice into a semi-professional investor. If you speak Swedish, I also teach a 12-week course in Swedish, Finanskursen.

Overview of The Investing Course: TIC

Learn about my Just One philosophy and my other ideas about technology, health (I work out outside and I drink fish oil every day), investing and philosophy, through past issues of my newsletter here.

Apart from my investing activities, I’ve been a podcast host and showrunner since 2015 (“25 minuter“, ‘Antiloop’, ‘Future skills’, ‘Outsiders’)


TIP: check out Hardy Haberland‘s interview with me from July 30, 2020 here (streaming, Open Spotify, video), or the new one from January 2021 (Spotify, YouTube). He’s done 5 or 6 interviews with me in total so check out his entire page!

TIP 2: check out my appearance on The Kook Jester Show

TIP 3: check out my extremely long format appearance on The Curious Worldview, or this 1-minute clip about education taken from that show. 

My hedge fund career

Before Antiloop I used to manage a billion dollars, together with my two senior partners at the hedge fund, Futuris (Brummer & Partners) – “The European Hedge Fund Of The Decade (2000-2009)”. I was active at Futuris for 15 years (2000-2014).

I retired right before turning 42 in January 2014. I actually handed in my resignation less than a week before my 42nd birthday, partly because of that number (yes, I’m a Douglas Adams fan).

Best Of page

learn to appreciate the cheaper things in life

This is me and my friend, a German Shepherd-Doberman rescue dog called Ronja (female, April 1, 2008 – June 22, 2019)

Link to my article on LinkedIn about my investing principles

Sprezzatura – the art of studied nonchalance

Castiglione wrote The Book of the Courtier as a portrayal of an idealized courtier—one who could successfully keep the support of his ruler. The ideal courtier was supposed to be skilled in arms and in athletic events but be equally skilled in music and dancing. However, the courtier who had sprezzatura managed to make these difficult tasks look easy – and, more to the point, not appear calculating, a not-to-be-discounted asset in a milieu commonly informed by ambition, intrigue, etc. Concerning sprezzatura, Castiglione said:

I have found quite a universal rule which in this matter seems to me valid above all other, and in all human affairs whether in word or deed: and that is to avoid affectation in every way possible as though it were some rough and dangerous reef; and (to pronounce a new word perhaps) to practice in all things a certain sprezzatura [nonchalance], so as to conceal all art and make whatever is done or said appear to be without effort and almost without any thought about it.

My podcast and book recommendations. Retard’s Notebook, disclaimer (no financial advice), e-book (my book[s]), newsletter (subscription page), and of course my BEST OF page, with my most important articles.

The early hedge fund years

In 2010 the hedge fund where I was one of three partners (as well as Managing Director and Portfolio Manager), received the HFR award for “The European Hedge Fund Of The Decade (2000-2009)” in competition with thousands other hedge funds.


Read Ludvig Sunström’s portrait of me and the 15 lessons he gleaned from meeting me, if you want to know more about me and that period of my career.

I want to provide you with perspective

This site, my free eBooks and newsletters are all about providing you with reference points from my experience within finance, technology, health, psychology, philosophy and personal development; distilled into methods to improve and grow, to prosper in the face of societal challenges and rapid technological evolution.

This picture (below) shows my view of the world, and the way to avoid getting trapped in “Whore Village”, where the Joneses are working for money alone, and unhappily and futilely keeping up with each other. 

career choice sucess happiness

What you’ll get

Articles on Investing, Education, Skills, Career choices, Psychology, Brain Science, Habits, Philosophy, Technology, Finance, Economy, Health and Fitness – and more.

Improve your life

I want to help you identify and achieve your desires, get results in life, while enjoying it and not being a dick

I myself applied persistence and grit to what little talent I had, and came out on top. You can do that too with a little guidance. The important question, however, is “what is the top, your top”?

The following short and partial biography shows how little I had going for me and how far I got. Do you want to emulate my success? Then keep on reading

fut hfotd2

Born in the eternal night above the polar circle, bullied as a child…

I was born in the coldest part of the winter of 1972, in Jukkasjärvi/Kiruna, above the polar circle in Sweden.

I almost froze to death in the first week, when our old Ford Taunus (not Taurus) broke down during a 100 mile transfer between hospitals.

I was bullied in school

…for being poor, short and thin, a year younger than my peers, and talking with a northern accent.

I turned my energy toward the fairness and predictability of mathematics and computers, which taught me discipline, patience, algebra, languages, logic… – and programming too. Learning these valuable skills early on, rather than acquiescing at formal school’s snail pace, enabled me to leave all competition and bullies far behind.

The sum of my experiences also made me a truth seeker.

Come graduation from high school…,

I received a large scholarship directly from the hands of His Majesty the King of Sweden, Carl XVI Gustaf (for excelling in math and physics over the course of three years).

College time

I chose between studying chemistry (I just might have become a real life Breaking Bad) or applying for Sweden’s most prestigious (semi-private) college; Stockholm School of Economics.

Partly to poke a finger in the eye of my former bullies, I chose the latter and moved to Stockholm, the capital of Sweden.

The least connected in Stockholm high finance

I began with nothing, in a new city, with no education, no friends, no contacts, no family… and worked myself to a significant negative net worth, by accumulating a student debt to study finance.

After a couple of dog years (1994-1996), at a third tier broker firm, things took off, e.g., resulting in me helping inflate the stock market IT bubble, and rendered me a Swedish number 1 analyst ranking in my industry sector, and culminated with award ceremonies in 2009-2011 in London for outstanding performance.

I decided to retire a few years later, to free up time for more productive endeavors. My last day as Managing Director of Futuris etc. was on January 1, 2015.

I go to an outdoor gym every day, and I drink natural fish oil from ArcticMed every day. This is me at 42 and then 52:

Trial and error built this 40+ year old body


Inspirational people, role models

Ray Kurzweil (foresight, independence), Richard Feynman (curiosity, brilliance), Julia Louis Dreyfus (self-made, despite silver spoon beginnings), Dr Philippa “Pippa” Malmgren (smarts, connecting the dots, eloquence, clarity), Iain McGilchrist, author of the brain science book “The Master And His Emissary”, Terence McKenna (linguist extraordinaire and psychonaut)

“When you come to a fork in the road – take it” (yep… take it)

My rescue dog

Ronja was rescued from a shelter (and before that from utter misery and an apartment fire)

Since then she’s gained about 1/3rd in body weight and moved in with me (December 17, 2014). Sadly, she suddenly passed away on Midsummer’s day, June 22, 2019.

Ronja efter branden


Ronja right after the fire

Free TIP: Check out TIC! It's the distillation of my 30 years as a finance professional


In just 6 weeks of online studies of videos, text documents, screen captures & spreadsheets, The Investing Course teaches you how to Identify, Analyze, Invest, Optimize, Evaluate investments and asset portfolios. It's thorough, pedagogical, easy and fun (well...) for any motivated student.

Join the growing list of very satisfied participants like Pavel Pek below

So far I really love the course!

It's surely more work than I thought to understand all of it (math and logic doesn't really come naturally to me, I am a psychologist by career and humanities oriented my entire life), but it provides me with the exact hobby/intellectual challenge that I was looking for. I also really like the overall background of you Mikael and Ludvig (long time fan of Ludvig's blog) and how the lectures are structured and taught.

The overall system seems to me much more thorough and well thought (esp. the emphasis on the P = FxV formula and the overall picture it so far gave me) of than anything else I found online in my two or so humble weeks of being interested in investing. I am very impressed as yet!

Thanks for bringing this to English.

Glad to hear this can help Karl! Of course, use it with a name, would be glad to spread this course, I take it for an excellent investment that I've made. Best of luck with marketing of this, it's a really awesome system!!


101 thoughts on “About”

  1. Hi Mikael,

    I have a quick question for you. I just completed my Ph.D. in electrical engineering, and I’m overwhelmed by the number of quant analyst jobs there are available for me. They pay very highly! Much more than my own field.

    But thus far I have never never touched finance.

    Do you think it is worth making this jump? What I’m asking is, is there a real promise of growth and opportunity? Or is the starting salary just to lure us in?

    If yes, then what kind of introductory book would you recommend? I literally know nothing about Hedge Funds etc.


    1. Quick answer, perhaps without really thinking it through:

      I think quant is more or less the only place to be going forward.

      In addition, if the markets don’t crash i think the starting salary is just the starting salary and there is much more to come, in particular in quant funds that perform and grow.

      OK, so far so good.

      It’s just that I think markets will crash soon. I also think trading volumes will fall abruptly. On top of it all, I think many quant funds will be hurt badly in the fall (some will perform spectacularly well, but most will be crushed in the stampede for the exit – if they even decide to exit at all)

      Regarding books for an aspiring quantie, I have no idea. I think being good at math/statistics should be enough. A quant usually isn’t supposed to care about the economy, the market, fundamentals etc anyway.

      Good luck!

        1. Dine 5 punkter var tankevekkende og mye mer dyptpløyende enn det man vanligvis forbinder med kristenarven. Du birde gi dem en mer fremtredende plass enn skjult dypt nedi denne bloggposten! Det slo meg at kanskje den første mer passende burde være verdien av barmhjertighet.

  2. Hi Mikael,
    Love the blog!
    If you were a teenager today, would you study finance and head to a Wall Street job, or study AI related fields and work in that industry? It seems like AI is the next breakthrough for humanity with unlimited possibilities but finance is far more stable and lucrative in the short term.
    I would really appreciate your thoughts on this.

    1. For one, I think you’ll see that the finance industry isn’t as stable well before the end of this decade.

      Friends of mine at the highest positions on various international broker firms agree with me that at least stock broking is… going broke, leaving room for very few players. Volumes are already dwindling, and 80-90% of that volume is “fake” to begin with. Sure, there are many other ways to work in finance, but expect most traditional ways from hedge funds to mutual funds to being an analyst, broker, working in corporate finance etc to quickly become very difficult to enjoy or profit from.

      Second, could you imagine working in finance for 10-20 years even if you didn’t make good money from it? That is, would you enjoy it even if you only learned skills and facts rather than amassed a large bank account?

      Anyway, I personally would definitely not aim for Wall Street or any other kind of finance related career. I would go for something fun, something meaningful, something tangible, something lasting, something to be proud of. Even if you succeed in finance all you really get is money, which is all good and dandy if it happens quickly enough for you to get out and then do what you really want, but as it looks now you might not even get that.

      Robotics, AI, marketing, psychology, anything creative (games, music, movies, virtual worlds), food (vertical farms, insects, algae), energy (fusion, solar, wave), water (desalienation, purifying), the environment (carbon capture, cap&trade-schemes, toilets). All of these from the top of my head sounds infinitely more robust, attractive, fun and meaningful to me. The last few weeks I’ve actually been toying with the idea of starting an insect farm to produce insect food.

      If you are a teenager and thinking about going to college, you would probably be amazed to see how far the AI field had progressed by the time you started looking for jobs. Google (all about machine learning, big data and AI) is already one of the most valuable companies on earth and they are NOT telling us all they are doing. I would have loved to even just dream of working on various AI projects there side by side with Ray Kurzweil.

      And if you are dreaming about buying sports cars and yachts, I don’t think studying finance and aiming for a job at Wall Street is the way. But you really should ask Wall Street Playboys if they still think it’s a plausible path to get rich enough, predictably and robustly, given hard work and a reasonable IQ/EQ.

      1. So if you don’t think working on Wall Street is the way to wealth/happiness (ideally both), do you think tech would serve me better? What you said about brokerage is very true, it keeps getting harder to make money. Do you think its like that across the board or are certain areas of Wall Street IB/PE still strong? What you said about Google is really interesting.
        Once again, I really appreciate your time.

        1. Some finance outfits will continue to consistently make a lot of money in finance. It’s just very hard to know which ones and how to get in on it. Perhaps it will be fundamentally driven hedge funds – THAT would be new. Unfortunately they are struggling now, so no new hires for a while.

          First and foremost I think tech is more fun and rewarding. It CAN be good for your finances too.

          My main point really is, you can’t pick an area and get rich simply by being smart and hard working. Hence you should pick an area where you’ll be happy/fulfilled. And quite possibly you’ll become wealthy too after long enough… or stop caring about money on the way.

          Tech and the environment are two excellent routes, I think. Finance is mostly meaningless, even if “business” (making deals) can be fun and meaningful.

          I would go for some crossover between medicine, psychology, anti-virus, AI, robotics, automation, clean energy, water purification/desalination and parentless protein (plant, lab grown, insects).

          Or for entertainment for that matter if you enjoy that kind of stuff – gaming, animation, tech-porn.

          AI-robotics-porn WILL become big someday. And I’m SERIOUS about this.

  3. Hej, jag är mitt uppe i att välja universitetsutbildning och väljer först o främst mellan hhs och industriell ekonomi. Jag tycker båda verkar likvärdigt intressanta och är i processen att komma i kontakt med personer som valt dessa tidigare och jobbat inom industrier där jag själv skulle kunna tänka mig att bygga karriär(professionellt). Antar att du kan se min email, skulle uppskatta starkt om du vill höra av dig, jag vill inte spilla ut all personlig information på internet.

  4. Hi Mikael !

    First of all : I really enjoy reading your blog, even if i have from time to time different oppinions than you (especially on your oppinion about books, will post my view on the article page).

    So, keep up the good work !

    Second : You have a finance background, but i am pretty sure that you’ve encountered a lot of interesting people during your career and/or acquired a lot of experience in other fields than finance:

    What kind of advice would you give someone who wants to get his foot into the door of the real estate industry ? Any blogs about this topic you could recommend ?

    Some background info about me :
    German, 28 years old, business administration background, already owning 8 appartments in a medium-size, but growing city, almost no debt.

    Thanks for your time and hopefully i can contribute something useful to the community in the future.

    Best regards,

    1. I’ve got several friends in real estate. All of them started early and in some way or another had a natural way in (a parent or friend being a realty broker, landlord or architect, e.g.)

      My guess is that if you already have 8 apartments for rent you know much more than I do about relevant information resources. All I know about real estate is through conversations with my friends in the business (right now, e.g., one is a property developer [previously a landlord], another is an urban area designer, one is a real estate fund manager, another a landlord). I’ll probably finance a project or two but I leave all the nitty gritty to them (contacts with authorities etc).

      So, I’m sorry to say I don’t have anything of value for you.

  5. Since you don’t really have an email I decided to post the question here.

    According to Wall Street Playboys the only way to be well off is to go into “Sales, Silicon Valley or Wall Street” or to become rich is to “Start a company”.

    I’m almost graduating college (wasted all that time on a shitty degree tbh) and I want to go into the business part. Why? Because I don’t have the possibility anymore to go to college again and go straight for Sales, Silicon Valley or Wall Street (finance). At the moment I have the possibility to work at a semi top Digital Marketing agency in Belgium and start grinding those hours to become as good as possible as quick as possible (I think you are known with the 10000 hours of deliberate practice rule?). If I would go for 12 hours a day it would take me around 4 years to get there and have a much higher chance to start a successful business.

    I’m willing to go for it, I’m just a bit scared because nobody in my family or friends are going that way. I know the pay in the beginning will be quite low but again I’m willing to go for it.

    Thanks for reading. You can contact me on via e-mail or post a comment here. I hope you can answer as soon as possible.

    1. Hi Rob

      I apologize for not making my e-mail easier to find (mikael.syding@gmail.com). It’s included at the bottom in every e-mail campaign but I guess I could feature it directly on the website too.

      I think you’ll learn the ropes much faster than in 4 years. The original findings on how to become an expert noticed a span of 3’000-30’000 hours of deliberate practice, and that’s neither a necessary nor a sufficient condition. I also think it applies more to sports than to business. Most people in finance, e.g., develop a strong intuitive feel for the market during their first 6 months, thanks to spending all their waking hours thinking about market variables. As time goes by, that feel diminishes but leaves room for perhaps a deeper understanding of actual investments.

      Anyway, my point is not to get a hang up on an old, flawed and mostly debunked research report. Also, I think you can do better and faster, if you deliberately set out to learn all you can as fast as possible in order to become your own in a few years.

      I think 12 hours a day is a good target. Many newbies in finance or mgmt consulting work more, but many of those hours are spent as mindless drones, just doing what they are told and not really thinking about the deeper meaning or what they can learn from it. They just want the promotion that comes from enough face time. Make sure you are rested enough to sort through what you learn each day and write it down in a structured manner in your commonplace. Keep imagining that you would start your business next month – what would your first action be?

      Of course you should do it.

      PS: answer here for everybody’s benefit, or write directly to me if you want to keep it private.

      1. The conversation can be public because I believe in free information. If anyone has the same doubts I hope they find this answer.

        Yes I do believe that certain areas needs more or less than the 10000 hours rule. I just like to use it as a benchmark before going BIG in a certain field. My Work ethic is ok, but I can probably improve it.

        I also received some more information about the agency but it looks like the deal ain’t that great. Because of that I’m trying to convince my parents to get me back into college (Belgium has a very low cost system, the max I will be paying after some calculations will be 5k if I stay at home) and I have no problems with paying 70% on my own. I can go all in during this time, go for internships as soon as possible and make that period as good as possible with a good plan and strategy!

        I’m just wondering how to apply the WSP theory in Europe. I like numbers, I like sales so the finance / investment world would be great, but I have no idea where to start in college. (I also like entrepreneurship, but that’s something for during my free time).

        I’m hoping you can get me somewhere on a good path as I’m not willing to screw it up like the rest. If you want I can email you the options that are possible and we can discuss it. Look at like a sort of mentor thing ;-).

        Thanks for answering me!

        1. Unfortunately I think I’m out of my depth here. I really only know the path I myself took: Natural sciences in high school and Finance and statistics at college (Stockholm School of Economics). My closest colleague at the hedge fund, however, studied completely different things. For a finance career in Sweden you typically study accounting, finance or macro economics at Stockholm School Of Economics or one of the other 4-5 universities that allow for the same degrees (NB: many Swedes continue to high flying finance careers in London and other European capitals).

          During their studies they work on summer internships at brokerage houses or back office operations of hedge funds. After graduation it’s a numbers game: applying for every finance-related work you can think of, starting with analyst or portfolio manager assistant at a hedge fund or mutual fund, analyst/broker assistant at a broker, or some other finance related job (back office, settlement etc), the SEC (!) or the finance department of a large corporation (hoping to gain both finance-related work experience and some real industry knowledge that can be valuable when they finally land the job they’re really after).

          All this seems obvious and I’m sure I’m not saying anything new here [rambling] but I really don’t have anything else to contribute without knowing even more specifics. I don’t have a clue as to what schools or specific companies where you are planning to study or work.

          1. Yes I can understand. I’m going to look at each option that WSP, see how the possibilities are in Belgium and then look how far I’m already developed in that area.

            Thanks for the information!

  6. Sorry to bother you again. I’ve send you a follow up email with a brief plan. It’s my last question and I won’t waste your time anymore after it.

    1. It’s not a waste of time trying to help you, when you are sincerely asking for advice. I thank you for taking the time to interest yourself in my writings, and I am humbled that you think enough of me to ask for my opinion on important decisions.

      I’ll answer soon.

  7. Efter många års uppgång på börsen och med 0 i ränta, men tyvärr inte tålamod att bara sitta på 100% kassa till nästa börskrasch.., vad av följande skulle du säga att idag är de sämsta av mina idéer;
    – blanka Fingerprint
    – Xact Bear
    – Brummer MS
    – preffar, t.ex Akelius
    ??, hjälp!

  8. Ang, Puh..,ovan, du hade väldigt rätt! FPC upp 26% sedan du avrådde från blankning.

    Undrar sedan om vi vill ha vårt Visa kopplat till vårt fingeravtryck? En kod som vi aldrig kan byta!
    Kan fingeravtryck sparas och kännas igen som en bild, om än med aldrig så sofistikerade algoritmer, kan de nog “luras” av en bild istället för ett finger också..

    Provar ditt tålamod med en fråga till..
    Arise värderas till ca 50% av eget kapital, trots att vindkraftparker säljs till goda priser. Elcertifikat-priser ska höjas från 1 januari 2016.
    Arise har vidare två herrar högt i ägarlistan som brukar landa fint på fötterna..(PG, JC).
    Om parkerna säljs till IKEA eller Facebook eller annan borde värdet kunna dubblas kan jag tycka.
    Tokigt tänkt av mig igen?

  9. Hi, just read an interesting piece of text of yours. You got me. I don’t really care much about the story itself regarding FPC, what I do like, is your approach and the way you write. Sounds like profound knowlegde, experienced in loosing (and winning) and most importantly I believe in you. I read an article regarding market psycology, not regarding FPC or how you’ve overcome loses. Can I ask you a question, by whom are you inspired and are you completely out of business?


    1. Hi

      Thanks for the comment. Right on the spot btw; my anecdotes are only for general and illustrative purposes, not for specifics.

      Richard Feynman (Nobel prize winner in [quantum mechanics] physics) is my all time most inspirational person.

      Otherwise I draw my knowledge and style from a very wide net of physical and fictional characters. Just check out my book recommendations posts to get a sense of what I like and mirror.

      I like the writings of finance people like Seth Klarman, John Hussman, Howard Marks, Ray Dalio, Vitaliy Katsenelson, Jeremy Grantham and Bill Gross. I’m in awe of the imagination and writing of sci-fi writer David Simpson, Douglas Adams’ dry humor and Terry Pratchett’s wit. I just love the podcast hosts of “The Gastropod” (Cynthia Graber and Nicola Twilley).

      In general you could say, anybody doing useful work using a diligent scientific method is my inspiration.

      Out of business… It depends, as always. I’m in control of my own time, but I do have a blog, a podcast, a few unlisted investments and a dog. I don’t make any money though, if that’s what you’re asking.

  10. Hey Mike,

    Your website is hilarious but also very informative – loved the post on ‘One Breath’ and ‘Just One More’.. I used to do ballet on a semi-pro level and a variation of the ‘just one more’ thing really did wonders for my progress :).

    I wanted to ask you for some advice – I hope to get into institutional equity sales (non-finance background, my degree is in natural sci just like yours) – and was wondering if you have any advice on what the best path to do so would be. Getting a sales assistant position? Seems a bit risky but is it worth it?

    1. “Hilarious” is about the best thing you could say to me. It’s probably unintentional but still much better than boring.

      If it’s equity sales assistant we are talking about, that’s probably the fastest route. I usually advice finance wannabes to only apply for the exact job they want and not hope that lurking in the shadows (back office) of a hedge fund will land them a PM position sooner or later. However, sales assistant and sales are just a bathroom break apart. As soon as you get to answer the phone, proving your skills (knowledge and personality) you’ll soon get your own clients. Just make sure you use your time as assistant to LEARN the same things your superior does: read up on the research, on the clients’ positions; pay attention to what he/she is doing effectively and where he/she is lacking/slacking.

      Ask me again if you think I missed the point, the actual question.

      1. Hey – thanks for getting back to me :).
        Really appreciate the insight.
        I will try to connect with some people from the field in my country
        and let you know how it goes

        (Lol I didn’t mean hilarious in an offensive way.. The best writing = writing with a sharp sense of humour :P)

  11. Hej Sprezzaturian,

    Jag pluggar maskinteknik på en (topp)högskola i Sverige. Förhoppningen är röra mig mot industridesign/konstruktion och därmed kombinera det vetenskapliga med det kreativa. Hur ser du på framtidsutsikterna för ingenjörer i Sverige och globalt? Tack för en intressant blogg och podd.

  12. Hej
    Läste nyss att Brummer avvecklar ännu en fond. När man studerar deras resultat, t.ex för Multistrategi och den belånade varianten förstår man det. På kortare tid, t.ex senaste halvåret är avkastningen efter avgifter negativ. Betraktar man deras resultat över längre tidsperioden, t.ex 1 år/2år/5år/10år eller annat förlorar de klart mot en aktieindexfond.
    Borde de inte, bortsett från att trygg lön och bonus är kul, avveckla allt, alternativt byta ut förvaltarna och styrelsen mot några som iallafall är på medelkompetensnivå inom värdepapper?

    1. Jag tittade in på deras hemsida och hittade följande graf. Där tycker jag att det ganska tydlig framgår att volatiliteten och downside risk är mycket lägre i de olika varianterna av BMS. 2xL har dessutom gått klart bättre än världsindex för aktier.

      1. BMS 2xL och Zenit är båda ned ca 7% de senaste 6 veckorna!
        Att de sedan lägger ned fonder som rasat i värde får iofs deras hemsida att se bättre ut. Ingen tröst för andelsägarna dock.
        Den information de lämnar om värdeutveckling per telefon skiljer sig avsevärt till deras fördel vs siffrorna som finns på Morningstar. Märkligt..Och graferna för respektive fond på deras hemsida stämmer inte heller överens med verkligheten även om de av någon anledning har gjorts märkligt små och svårlästa… Brummer vill möjligtvis ge korrekt information..Förmågan att räkna procent är det tyvärr tveklöst sämre ställt med. Liksom matematikkunskaperna i övrigt. Däremot är förmågan att lyfta bonus till förvaltarna utmärkt.

        Men med några kreativa grafer och nya hastigt uppfunna fonder ska det väl gå fint att få hänga kvar på kontoret ett tag till.

  13. Hej,

    Tack för en grym Podd. I ett av avsnitten pratade du om vikten av att stretcha höftböjaren. Jag behöver definitivt det men har bara jobbiga övningar. Att kunna göra det I soffan när man ändå sitter där later grymt. Har dock inte lyckats finna ut hur du gör. Please beskriv hur du gör eller bild.
    Tack på förhand

  14. Hey Mike,

    I’m 18 years old have always been in love with both entrepreneurship and the stock market. I have a business in the healthcare industry that is doing well but I really would like to be in the stock market. I read a lot but I have zero experience, also my motivation is simply because I think it’s a lot of fun (and maybe because of the potential monetary gains), and I have thought about it since I was 14 (I know that’s not a lot but I haven’t lived a lot either). I’d just like to know your opinion on me splitting my time between my businesses and the stock market, what are some tips for a very young beginner and advice on finding a mentor.

    Thank you, and congrats on an awesome website!

    1. Thanks.

      On mentorship I can only advice you to look around you where you live.

      My advice is always to stay away from the stock market. It’s better for all if intelligent people focus on inventions and production instead of gambling.

  15. Your history is inspiring Sprezza!!!

    I feel identified with what you say about being bullied by rich guys at school. I’m trying to get an entry job in the hedge fund industry (I’m finishing my degree right now) but I haven’t been lucky. I keep reading and managing my savings in order to gain some ‘experience’ and knowledge.

    I also want to teach myself maths as I find it really interesting (applied to physics) but I have a really basic level.

    As you I also love sport, but I include cardio in my routine and I workout 6 days a week.

    Any advice?

    Keep going Sprezza, you’re a boss! ;)


    1. Regarding how to get that first job, all I can say is keep trying*… With the caveat that I don’t recommend anybody going into finance :) But you knew that.

      *be different, craft an unusual CV and cover letter, approach differently, prove value, pitch an idea, be a doer.

      1. Thank you very much for your answer Sprezza!

        I sent you an email to the one that appears in the right margin of the web, let me know if you received it.

        And, as you learned maths and programming alone, any advice to learn math alone?

  16. Hi Mikael,

    I want to let you know your website is one of my favourite places for no-nonsense advice. I enjoy reading your articles mostly due to the fact that they seem honest and not trying to sell me something (that’s a major point, actually). While I can’t say I agree with everything, your results speak for themselves.

    While I am writing, I would like to throw in a suggestion for an article topic. I would be very happy if you share your personal experience with staying focused on one task and finding the right work-life balance, if this thing can actually be achieved. Did you completely dive into your work and studies? I personally find it really hard as there are so many things I want to do besides working and studying, so I would appreciate hearing about your personal process. Keeping the internal motivation alive is also a something I would be happy to know your thoughts on, as is avoiding burnout.

    My main point is did you have to sacrifice everything for a large period to get where you are today, and if you had, how did you manage to survive both physically and mentally? I think a lot of people would really benefit from your experience in this area, as in today’s world there are so many distractions. I am not mentioning sheer laziness, but it’s heavily implied.

    Keep up with the good work, Sprezza!

  17. Hi Mikael,

    I’m 43 and have net worth. I’ve made and spent a lot of money in the entertainment industry throughout my career, but it’s a young man’s game and the clock is ticking. I’d like to be wealthy and financially independent.

    Am I fucked?

  18. Hej Mikael!

    Grym podd och blogg!
    jag kan ha missat det i tidigare avsnitt i veckans bok. Men jag tänkte höra med dig om du har någon bok att rekomendera som handlar om de psykologiska aspekterna om varför vi agerar som vi gör vi vissa situationer? Alltså, jag vill veta mer om våra instinkter för att bli bättre på aktiemarknaden.

    Mvh Robin.

    1. Hej, jag har ingen riktigt klockren bok för ämnet tyvärr. Investing Psychology av Tim Richards kommer ganska nära, men det är ingen helhjärtad rekommendation.

  19. Hello there,
    Being in the US I don’t have access to the fish oils you reference. Do you have any recommendations for those in the U.S.?

    1. Unfortunately I have no clue what products you have, but as long as you go for natural fish oil rather than concentrated capsules you’re probably okay. I’ve heard about Nordic Naturals or something like that on The Gastropod I think. That could be worth checking out

  20. Hej, tyckte din bok var jättebra!

    Vill bara säga för att hjälpa till att jag hittade ett stavfel på sidan 36, du känns som en sån perfekt som vill rätta det… :)

    1. “hthe”

      Tack. Jag skulle gärna fixa det, men i o m att jag låtit “någon annan” skapa dokumentet vet jag inte riktigt hur jag kan fixa det och spara om det.

  21. Thank you for your awesome Content. It truly educates and enriches My wifes and My Life.
    Stay awesome Mr. Syding :)
    Kind regards from your loyal Long Time readers.

  22. Hi Sprezza,
    You asked for some feedback on your site. I’ve really been enjoying reading it. We are about the same age and I find your writings inspiring. I’ve been trading for decades with mixed success and I feel like there is a lot to learn from your perspective on things.
    Plus, I enjoy your perspectives/posts about fitness, lifestyle, wellness, etc.
    I just wish I spoke Swedish so I could listen to your podcast and read all the articles.
    Please continue to post. You are putting a lot of value out into the world!


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  27. Hej
    Ni har en bra podd, dvs 25 minuter.
    Lyssnar på ca 28tim podd i veckan. Hittar ibland någon ny eller blir rekommenderad. Sorterar ofta bort de som är för ”svamliga” där programledarna ska vara vitsiga eller berätta om vad dom gjort under helgen. En IT säkerhetspodd som kunde ha blivit bra fnittrade dom åt sina egna skämt.
    25-minuter känner jag att ni ofta försöker vara trendiga och använda engelska uttryck. Visst vissa ord finns inte på svenska men det låter som om ni försöker vara trendiga/märkvärdiga med engelska uttryck. Er podd kanske vänder sig till en ung publik runt 20år.
    Dock tycker jag om er podd då den ofta har ett professionellt intryck. Den ger mig något tänkvärt, nytt och att ni håller er till ämnet. Det gör inte alla poddar. Många låter som jag gjorde som barn med en kassettbandspelare.
    Snälla var professionella och använd inte slang och onödiga engelska uttryck. / Rolf Sjöberg

    1. Tack för återkoppling (inte feedback :)

      Det här är snarast pinsamt att erkänna, men vi försöker inte använda engelska uttryck. Definitivt inte för att vara häftiga. Ludvig tror jag inte bryr sig alls, utan säger det han kommer att tänka på, men jag försöker t.o.m. aktivt hitta svenska ord men misslyckas… Som sagt, pinsamt, men vi ska göra vad vi kan för att skärpa till oss.

      BRA där med 28h podcast i veckan. Det är t.o.m. mer än jag lyssnar!

  28. Min företagsidé bygger på riktigt starka punchpraliner (inklusive kaffe) till traders på börsen. I utbyte hoppas jag på att få någon form av bonus. Är det en win win, eller bör jag satsa på något annat?

  29. 1) Om datorn har blivit hackad samt kapad. Hur kan jag då lita på siffrorna på börsen? Är det möjligt att en aktie kan falla lodrätt nedåt på en sekund 1000 kr per aktie? Vad gör man när datorn blivit kapad och hur bevisar man att det är sant? Skall jag avsluta allt gällande investeringar på nätet eller är det värt att försöka bråka med argument utan att ha bevis för en kapad dator? Att en aktie faller lodrätt på en sekund har inte med saken att göra, det är snarare risken att fortsätta investera på nätet med vetskapen om att datorn kan vara kapad. Skall jag chansa på att det löser sig och hitta nya fönster, alternativt ge upp allt som innebär siffror och bokstäver på nätet?

    1. Jag har lyssnat på alla podcasts av “Outsiders” sedan mitt förra meddelande. Jag har inte sett något nytt på börsen. Jag funderar på att skaffa ett annat jobb istället precis som du. Har du ett jobb till mig så sänd ett mejl. Det känns som att vi förstår varandra!

  30. Tack för svar. När det kommer till dina shorts så är jag ganska säker på att det är ett par kopior (materialet stämmer inte med de jag köpte på nätet med dåligt material) första och tredje paret var äkta.


  31. Med nya tekniker som robotproduction och 3d printing så kommer troligtvis sänkta priser för allt inom material så går vi således över till ett samhälle utan materiella problem. Robotar kommer troligtvis återvinna allt.material på ett miljövänligt sett. Börsen kommer på sikt avta eftersom ingen behöver bry sig gällande pengar (exempelvis printade diamanter et,c) Hur skall då detta styras, eller behöver det styras då alla får vad de önskar?

  32. Hej! Jag gillar verkligen dina poddar och guld. Vilken ETF (helst hos Avanza) ska man som småsparare välja tycker du?

  33. Hej Sara,
    Hoppas läget är bra!
    Jag har ett tips till dig: Entreprenörsdrivna företaget Städarna, grundat 2010, gick idag om börsnoterade Homemaid som Sveriges näst största hemservicebolag. Och jagar nu på Hemfrid (grundat 1996), som är branschens största, i volym. 
    Företaget har en väldigt speciell kultur där personalen alltid är huvudfokus. De har t ex sagt upp flera stora kunder för att de inte behandlat Städarnas personal på ett bra sätt. Och mycket annat som sticker ut från den stora massan.
    Skulle det vara intressant att prata med Tjoffe, Städarnas vd och en av grundarna, om deras företagskultur, bolagsbygge, insvesteringar (han var bl a första investerare i iDeal of Sweden)?

    Ha en fin onsdag!

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  35. Jag gick in på mitt telefonbolag med legitimation utan hjälp med en faktura. Ringde återigen mitt telefonbolag som hänvisade mig till att uppsöka deras kontor med legitimation och som vanligt så kunde dom inte hjälpa mig och händvisade till min bank – banken hade en anställd pä ca 100 kvm på avenyn i Göteborg. Mitt första intryck var att det inte var en bank och frågade om jag hade kommit rätt och det verkade så- dock lite oroväckande för alla pensionärer,, sjuka som inte kan hantera datorer, digipasser, mobilt bankID etc. – För mig var upplevelsen på gränsen till surrealistisk – hur kan man tro att en halv generation med gråstarr och liknande sjukdommar skall kunna hantera; ” Enkla Vardagen” SEB och det är fler med samma strategi? Som sagt- en kvar som jobbar på SEB bank Göteborg så som fysisk person resten kan jag inte nå via telefon.. Jag har bytt telefonbolag men dom kan inte hjälpa mig oavsett om jag har ett giltigt svenskt legitimation. Jag funderar på om inte det är den sista anställda på SEB innan all verksamhet flyttas till lagliga länder utanför gränsen.

  36. Hi, trust you are well. I want to apply for the investing course but there is an error message saying there is a critical error on the website, can you please assist.

    1. That’s weird. Nobody else has reported any errors and we have a lot of successful applications. I guess you must have something wrong or unusual with your setup (cache, cookies, VPN, firewall, browser, hardware or something else)

  37. Hej Mikael,
    tack för en bra podd, intressant och roligt. Tänkte fråga om ni kommer följa upp om Uran ytterligare. Är det något som ni fortfarande tror kommer gå bra?
    Vänliga hälsningar

    1. I vilken podd menar du? I Antiloop blir det kanske inte så mycket mer pga bara 4 avsnitt kvar, men vi har pratat en hel del om uran i år. I 25 MINUTER blir det förr eller senare mer uran, så fort Ludvig och jag får loss mer tid från lanseringen av The Investing Course.

  38. Hej,
    Tänkte höra om ni har någon analys av Spectracure. De har en studie som är i ett sent skede och en ny studie planeras, och vad jag förstår så har de god kompetens i styrelsen.
    Vänliga hälsningar

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