It feels like we’ve been having the same conversation about U.S. stock market valuations for 7-8 years now. But just saying “valuations are high so they have to come back down to average” misses out on the nuance and context required to think through where they stand. It would be naive to assume valuations will…
What happens to interest rates and market returns as societies become wealthier?
Short summaries of some of the classic finance books.
How should investors think about investing in a negative interest rate environment?
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: How stocks have reacted to past Fed rate cuts There’s always a bull market somewhere Why is the stock market falling? Why aren’t there more unicorn…
One of the biggest misconceptions about the Fed’s monetary policy is that low interest rates immediately cause investors to speculate or take on more debt. It would be silly to argue there hasn’t been any yield-chasing or excess risk-taking in recent years but there is a big difference between interest rate levels and credit (or…
Michael and Ben review the lessons from Superforecasting by Philip Tetlock.
Don’t make it a habit of judging others based on their financial choices.
Come to Wealth/Stack in September!
Different ways to become wealthy that don’t involve money.