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Wednesday, November 9, 2022

A quote from TIME Magazine published on September 28th:If America’s economic landscape seems suddenly alien and hostile to many citizens, there is good reason: they have never seen anything like it. Nothing in memory has prepared...

Wednesday, November 9, 2022

An interesting study was published in the Journal of Economic Psychology in 2007. The authors examined the behavior of soccer goalies during penalty kicks. We’ve all seen the videos. Penalty kicks are difficult to block. Just as...

Wednesday, November 9, 2022

Bill Bernstein recounts hedge fund manager Ralph Wanger’s brilliant analogy of the markets:He likens the market to an excitable dog on a very long leash in New York City, darting randomly in every direction. The dog’s owner...

Wednesday, November 9, 2022

“The past can hurt. But the way I see it, you can either run from it or learn from it.” The enduring words of Rafiki, the eccentric baboon, spoken after walloping Simba on the head with his staff. Sound advice for the lion...

Wednesday, November 9, 2022

Rory suggested I join him training Jiu Jitsu about a year and a half ago. I liked the idea of becoming proficient in a martial art. Of being able to handle myself. And I’ve seen the John Wick movies. Who doesn’t want to be...

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Wednesday, November 9, 2022

Inflation has been the dominant narrative in the markets of 2022. Inflation is up and everything else is down. Equities? Down. Bonds? Down. Gold? Down. Bitcoin? Down.I believe a well-diversified portfolio of equities is the greatest...

Wednesday, November 9, 2022

Rory, my business partner, shared something recently that struck me. He thinks doing something moderately difficult for a long period of time is far more difficult than doing something extremely difficult for a short period of time.I...

Wednesday, November 9, 2022

You probably heard the news. At 7:30am CST this morning GDP for the 2nd quarter was reported to be a negative number. That’s two consecutive quarters of negative GDP prints. That meets the technical definition of the “R...

Wednesday, November 9, 2022

Suppose you commission a psychological study. Recruit a handful of participants and find a few cameras to record facial expressions and an electroencephalogram to measure brainwaves. Then measure emotional reactions when the...

Wednesday, November 9, 2022

People like to make forecasts. Predictions. Models. It’s quite easy to make a prediction seem plausible. We all try to think logically. If events A and B occur, then C will be the result. But we’re poorly equipped to...

Wednesday, November 9, 2022

People say you can’t predict the market’s short-term moves.But sometimes the market serves you a trade on a silver platter.At least that’s what the market timers and the folks vying for attention on CNBC thought...

Monday, November 7, 2022

Do you believe the market will eventually recover to its previous high? If you have a well-diversified portfolio – one invested in hundreds of companies across dozens of sectors and countries, I believe you ought to believe...