We recently came across a do-it-yourself (DIY) investor, let’s call him Cecil. Cecil firmly proclaims he hates technology stocks and doesn’t feel comfortable owning Tesla, Facebook, Apple,…
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The New S&P 500
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...
read moreQ2: Risk On?
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”– Peter Lynch,…
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Sucker Dividend Yields
“One thing everyone should know about dividend yield is this: it doesn’t tell you much. It doesn’t give you clues about the valuation of a…
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“How Often Do You Look at My Portfolio?”
“I was going to be a sales person representing that I managed the portfolio. I couldn’t live with that.” – Former Portfolio Manager at a…
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Cash is a Weapon
“Hold some cash in reserve to take advantage of future opportunities.”– Seth Klarman, author of Margin of Safety. An underrated joy of writing our blog…
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Loose Bubble Talk
“I’m hard-pressed to recall when any sort of bubble was accurately identified in real-time on the cover of a major media publication. If anything, the…
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Beware of the Lazy 60/40
“A traditional static indexing approach leaves an investor overweight the riskiest assets at the riskiest times and underweight those low risk assets when their returns…
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Turning Safe Into Risky
“The more expensive debt becomes, the less weak corporations will be able to maintain the illusion of health.” Trevor Noren, 13D Research There seems to…
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Less Obvious Mistakes
“Getting rich is one thing. Staying rich is quite another.” – Morgan Housel, The Collaborative Fund We are often asked a variation of “what are…
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