Venture & Gain

Essays on wealth, markets, & the classical tradition in economic thought.

Venture & Gain is the essay work of Vermillion Private Wealth: a continuing effort to think carefully about markets, capital, and the classical tradition in economic thought. The writing and the investment practice are two expressions of the same intellectual commitments.

Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

From Cinderella Stories to Bank Runs: Understanding the Recent Financial Shake-up

We looked forward to Cinderella stories, buzzer beaters, and "one shining moment." Instead, we got bank collapses, government backstops, and fear. I'm talking about the banks (Silicon Valley Bank and Signature Bank) that have dramatically exited the financial system - raising concerns over the financial system and economy.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Unmasking Weasel Words: Politicians and Financial Experts Use of Transitory

Weasel words sound consequential but only communicate something vague. Politicians love weasel words. They use them to answer simple questions with long-drawn-out answers, using poetic language and passionate displays while saying little meaning or value.

I felt it'd be appropriate to look at a new favorite weasel word of mine, or least favorite, depending on how you look at it (perspective matters, as you'll see below).

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Revving Up the Electric Era: Investing Opportunities in the EV Battle

The battle was on once it became clear that the car would be a staple of American life. Carmakers raced to build bigger, faster, and more powerful machines. Automakers are at it again, this time racing to win the electric vehicle war. But it isn't a battle everyone was eager to join. Legacy automakers remained largely on the sidelines, calling the shift to EVs overblown.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

From Remote Work to Reinvented Homes: The Changing Face of Housing

The house is transitioning from a recovery facility to a condensed town, complete with office space, entertainment facilities, shopping, and more. This shift will likely cause a change in dollar allocation, with less going to traditional office space and more towards living spaces. Housing prices may not have needed more reasons to continue rising, but innovation might still provide them.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Embracing the SaaS Revolution: Unlocking the Power of Cloud-Based Software

The following ten years could well be the Golden Era for software 2.0. As more developers leverage the ever-expanding public cloud, SaaS companies will serve more clients with innovative software solutions. The digital transformation is well underway, and I expect SaaS to grow in tandem with other industries enabled by technological advances.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Crypto Assets and Financial Planning:  Listen, Learn, and  Lead 

I recognize crypto assets to be the first entirely new asset class in a long time. Thus, a healthy dose of skepticism is understandable and advisable. That said, it's lazy to dismiss an entire asset class without attempting to understand it, consider its uses, and ponder its potential impact on the future. Remember, Bitcoin is only 12 years old, not even a teenager, and many other cryptocurrencies are in their infancy.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

The Privacy Showdown: Tim Cook vs. Mark Zuckerberg

Three billion dollars is the combined value of Apple and Facebook, which is more than the GDP of 37 countries according to the United Nations (2019). And if you haven't heard, Apple brought user privacy to the forefront in their latest iOS update. The update prompts iPhone users to choose whether to allow tracking for advertising on an app-by-app basis.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Deep Learning in Action: Transforming Facial Recognition, Self-Driving Cars, and More

Until very recently codes were written by humans, painstakingly composing every line to achieve the desired outcomes. Deep learning, however, represents a seismic shift in software development, as artificial intelligence is being used to write software, a development that Ark Invest believes "could turbocharge every industry" and add 30 trillion dollars to the global economy over the next 15–20 years.

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Austrian Thought, Markets & Knowledge James W. Vermillion III Austrian Thought, Markets & Knowledge James W. Vermillion III

Demystifying Investing Transactions: What Happens When You Press That Buy or Sell Button?

The GameStop fiasco has prompted many to take a deeper look at the inner-workings of financial transactions. The purpose of this article is not to create an escape hatch for large financial institutions, rather, I hope it provides a little information on what occurs behind the scenes every time you push that buy or sell button.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Unlocking the Secrets of Technological Cost Reduction: Wright's Law Revealed

Remember when even a standard-sized flat-screen television costs several thousand dollars (and could easily cause a trip to the chiropractor after handling). Since we live in a technology-driven society the speed of innovation is not always apparent. But when we look back, it becomes clear that the pace of technological improvements is swifter than ever, and continuing to accelerate.

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Markets & Knowledge James W. Vermillion III Markets & Knowledge James W. Vermillion III

Climate Shockwave: Larry Fink's Call for Capital Reallocation and the Future of Finance

Did you feel that? That shockwave was Blackrock CEO, Larry Fink, stating the obvious but something often only whispered on Wall Street; “the evidence on climate risk is compelling investors to reassess core assumptions about modern finance…in the near future - and sooner than most anticipate - there will be a significant reallocation of capital.”

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For essays on classical liberalism, emergent order, and the broader intellectual tradition the work here draws from, see jamesvermillion.com