Investing in a 0% World
“Zero rates aren’t a new normal; they’re just normal in Japan.” – Verdad Capital That didn’t last long. After four years of “normalizing” rates from…
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Markets After Major Geopolitical Events
“The world changes. This is the biggest problem in markets.” – Bill Miller, former chairmen of Legg Mason Capital Management T. Rowe Price, founder of the Baltimore-based investment firm that bears his name, wrote an essay in 1937 titled, “Change...
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Good from Far, but Far from Good
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very…
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Scratching Your Degenerate Itch
“Bad bets sometimes pay off.” – Marty Rubin, Canadian Author There’s been a stir in financial media about Robinhood traders bidding up bankrupt companies to…
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Investing Cash in a Runaway Market
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” – Peter…
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The Brilliance of “I Don’t Know”
“We cherish not only answering every question, but also being quick-witted. The answer has to be produced in the shortest amount of time with the…
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I Keep Coming Back to One Question
“We have to practice defensive investing, since many of the outcomes are likely to go against us. It’s more important to ensure survival under negative…
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Mitigating Damage without Placing a Trade
“We will all feel pain in the next recession or stock market drop, but what can we do now to mitigate the damage?” – Pure…
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Does Your ESG Approach Pass the Smell Test?
I was perusing my LinkedIn feed when a particular post caught my eye. For the record, I have no clue who Mark A. Smith is….
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Municipal Magic
“You can take advantage of pockets of opportunity in what people don’t want.” – Jeff Gundlach, DoubleLine CEO We’ve been fielding a decent number of…
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