“Bonds as an asset class will always be needed, not just by insurance companies and pension funds, but aging boomers.” – Bill Gross, PIMCO founder…
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The Longest Drawdown in Recent History
Bear Market Feedback is Gold
“Investors’ mental models tend to be simple, based on recent history, an extrapolation of trends, and an overreliance on frameworks that worked recently.” – Dan Rasmussen, The Humble Investor Most people set goals with a desired outcome in mind. Getting...
read morePrincipled Investing
“The dead outnumber the living fourteen to one, and we ignore the accumulated experience of such a huge majority of mankind at our peril.” —Niall Ferguson,…
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The Benchmark Fallacy
“The highest form of wealth is the ability to wake up every morning and say: ‘I can do whatever I want today.” — Morgan Housel,…
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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…
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Hot Themes and Future Returns
“I didn’t learn anything. I already knew I wasn’t supposed to do that.” – Stanley Drunkenmiller, after losing $3 billion dollars on tech stocks. The…
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Can the Market Predict the Next President?
“If you mix your politics with your investment decisions, you’re making a big mistake.” – Warren Buffett, Berkshire Hathaway It is not a secret 2024…
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Estimating Future Equity Returns
“We deceive ourselves when we believe that past stock market return patterns provide the bounds by which we can predict the future.” – John Bogle,…
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Is There Such a Thing as “Safe” Stocks?
“People want to believe that this time is different, that there’s something new under the sun, and through their own ingenuity they can wish risk…
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Bitcoin: Understanding the Digital Asset
“You can’t stop things like Bitcoin. It will be everywhere, and the world will have to re-adjust. World governments will have to re-adjust.” —John McAfee,…
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