Morningstar’s John Rekenthaler shared a wild statistic about Yale’s endowment fund in a piece published yesterday: The fund’s reputation, however, owes to its earlier accomplishments. In the 10 years from mid-2008 through mid-2018 (the latter being the date of the fund’s most recent report), Yale gained an annualized 7.4%. During that same time period, the…
Ben Carlson
Animal Spirits: Dad Cat Bounce
On this week’s Animal Spirits we discuss why housing is the most personal of finance topics, Peloton, electric scooters, Michael’s diet & much more.
When Does the Stock Market Go Up?
A reader asks: I read something this past week that, while I trust the source, it seems hard to comprehend, let alone believe… that virtually all of the nearly 30% gain in the S&P 500 since ‘17 has come outside of normal US market trading hours. More specifically, that since January ‘17 just 2% of…
Talk Your Book: The Net Lease REIT ETF
Michael & Ben sat down with Chris Burbach & Alexi Panagiotakopoulos to discuss investing in REITs and their new net lease REIT ETF.
Managing Money vs. Managing Wealth
Some lessons learned from a financial advisor who helps NBA, NFL, PGA, and MLB players manager their finances and spending.
Highlights From Stuff I’ve Been Reading Lately
Highlights from Range by David Epstein, An Economist Walks Into a Brothel by Allison Shrager, The Big Change by Frederick Lewis Allen & more.
Only a Good Idea in Hindsight
People were skeptical of Google when it IPO’d. Amazon’s own employees didn’t think Prime would be a success. Good ideas are often only known in hindsight.
Animal Spirits: The Influencer Bubble
This week’s Animal Spirits with Michael & Ben is sponsored by YCharts: Mention Animal Spirits and receive 20% off your subscription price when you initially sign up for the service. We discuss: The pogo stick indicator. The poor performance of alternative funds. Tariff impacts on Chipotle. Is the bond market really that smart? Can yields be used to…
Is the Bond Market Really That Smart?
Is the bond market really smarter than the stock market? Are bond investors really going to tell us when the next economic downturn is coming?
Re-Kindled: Where Are the Customers’ Yachts?
On this edition of Re-Kindled, Michael and Ben dive into the classic book Where Are the Customers’ Yachts? to see how well Fred Schwed’s book has held up.
