Charley Ellis once said, “Investment policy does not enjoy much popularity. Almost everyone agrees that it is a “good” thing, but almost no one does anything about it.” I’ve had conversations with a number of institutional investors over the past few months because a crisis is typically the time organizations either (a) realize they don’t…
Michael and Ben discuss the crazieness of Tesla’s share price surge and much more.
A look back at the 1980s bubble in the Kuwait stock market.
How prospect theory explains a new army of day traders.
Four reasons we need to pay taxes.
This fall is going to be weird. There are a lot of people that want school to happen but there’s no way it occurs under normal conditions. If it’s all in-person there will likely be outbreaks that make it a disjointed process. And if it’s fully or partially online it will make life more challenging…
Stock market valuations may not make sense to a lot of people right now but valuations often don’t matter much in the short run. Take a look at the average one-year returns for the S&P 500 from various starting CAPE ratios going back to 1926: Lower than average valuations show substantially higher average returns but…
This week’s Animal Spirits with Michael & Ben is supported by YCharts: Mention Animal Spirits and receive 20% off your subscription price when you initially sign up for the service. We discuss: The 2 types of investment mistakes Hangovers and sunburns The utter domination of large firms in the stock market this year Why real estate prices are…
Investing in a world with no yield on safe assets.
The biggest companies are crushing the compeitition this year.
