Pardon our Dust, Hobson’s Choice, Zooming Naked, and the Passing of a Legend

You may have noticed a slight tweak to the Tao of Pete newsletter. That’s right, I’ve moved from Substack to Beehiiv.

And you may have noticed that it’s just my newsletter. Plain old Pete. I haven’t abandoned the Tao. Quite the contrary. If I have to tell you about the Tao, am I really observing it? I will continue to read it, learn from it, and post verses long enough to fit in a Twitter post.

This evolution is the essence of wu wei, or “not forcing”. I don’t intend to regurgitate the news in these pages. And while I don’t think of myself as offering personal development advice, the newsletter will continue to share things I’m learning in a simple format: reading, listening, and watching. On occasion, I may touch the “third rail” of politics and popular culture. This issue will be one of those occasions.

In other news, I’ve put up a personal website. The website is a compendium of the work I’m doing with Social Leverage, and my investing journey with the 8 to 80 Portfolio.

Have a great week.

The rise of the retail investor has allowed “Joe bag of donuts” (i.e. me) to experiment with different ends, ways, and means of portfolio construction. Part of that education is going beyond a comfort zone of fundamentals, leaving behind the astrology of technicians, and looking at the markets through multiple lenses. One of my discoveries is Ben Hunt:

“Many portfolios are twice as big as they need to be. Not in dollars, of course (may your portfolio get much larger in that regard), but in terms of inefficient, mushy allocation to low risk, low reward, highly correlated investments.”

“More interesting to me, though, is how the meme of process and incremental adaptation — principally authored by Dalio — is now part of the internal Narrative of every investment firm on Earth. Note that I’m saying this meme is part of the Narrative of these firms, not their investment DNA. Like all good memes, the belief in process and incremental adaptation is principally an instrument of internal social control…”

If this seems like a self-licking ice cream cone, so be it. Ryan Hoover’s story is a lesson in curiosity, and where it can lead. Additionally, there’s some decent parenting advice from the boss.

Earlier this week, we lost a legend:

Originally published at




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Pete Weishaupt

Pete Weishaupt

Twitter: @peteweishaupt Website:

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