“The purpose of volatility is to make people make stupid decisions.” – Jared Dillion, The Daily Dirt Nap Yen carry trade Weak jobs report Fed…
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Market Correction Reflection
Closest Thing to a Fat Pitch in Investing
“Interest rates go up and down, stock markets boom and bust, but human psychology never changes. I believe that studying how people think about and react to markets—and particularly studying the most common mistakes investors make—can give us an edge...
read morePicking Individual Stocks is Hard
“Owning individual stocks invites infinitely more behavioral hurdles than a simpler strategy. It’s easier to ignore index funds and ETFs. You can’t ignore individual stocks.”…
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Tale of Two Markets
“What you see is not what others see. We inhabit parallel worlds of perception, bounded by our interest and experience. What is obvious to some…
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The Longest Drawdown in Recent History
“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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Principled 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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