Michael Batnick

Shit Happens

There were two interesting charts floating around last week on the thirtieth anniversary of Black Monday. The first one below was produced by Eddy Elfenbein. Eliminating 1987 from this chart is a great way to visualize the fact that investors ought to focus on the long-term. Over these three years, and I understand that three years…

These Are the Goods

Articles I don’t know what kind of mood I’ll be in tonight, let alone 200 million strangers ten years from now. By Morgan Housel The human mind is famously inadequate at being able to see or predict parabolic value creation. By Vinny Lingham There is no firm behind Bitcoin; there’s simply code. By Nick Tomaino There’s panic…

They’re All Going to Leave

Stocks have been near all-time highs for a while now. The S&P 500 has gone 322 days without experiencing a 5% drawdown, colloquially known as a “pullback.” Stocks haven’t just been hanging out near all-time highs, they’ve been printing new ones daily. In 2017, 47 out of 201 sessions have closed at an all-time high….

But Not Too Much

There is a fine line between admiration and jealousy. We love watching people succeed, but not too much. It was easy to root for Tom Brady when he won his first Super Bowl. But outside of Patriots fans, was there a person in America that was rooting for him to win his fifth? We love…

Advice For Aspiring Traders

A frequent question asked of podcast guests is, “What do you know now that you wish you knew twenty years ago?” Twenty years ago I was twelve, but five years ago I was buying stocks that were going down and shorting stocks that were going up. I wish I knew how foolish this was. I…

These Are the Goods

Articles In years when Finra’s fee revenue exceeds forecasts and investment gains are strong, the regulator can rebate fees paid by firms it regulates. It hasn’t done that since 2014. By Dave Michaels Telling the difference between patience and stubbornness is incredibly hard. By Morgan Housel This is why we do what we do. By Tony…

The Price of Progress

We have two crises brewing. One will come to a head in my lifetime, the other in my child’s lifetime. According to a Washington Post article, The New Reality of Old Age in America, one in five Americans have no savings, and nearly 30 percent of households headed by someone 55 or older have neither a…

These Are the Goods

Articles Bill Gates has sold $200 million or more worth of Microsoft shares almost every month for a decade. By Morgan Housel Nearly 30 percent of households headed by someone 55 or older have neither a pension nor any retirement savings. By Mary Jordan and Kevin Sullivan You need the bad days to remind you…

Momentum

The S&P 500 closed at an all-time high yesterday for the sixth straight day. The last time this occurred was June 1997. Why is this happening? Are markets pricing in tax reform? Is it looking forward to higher earnings over the next twelve months?  Is it because North Korea hasn’t been in the headlines for…

Lost in the Shuffle

In 2009, the world’s economy was experiencing pain like it hadn’t seen since the 1930s. So it’s no wonder that a new book on finance might have slipped through the cracks. Lords of Finance: The Bankers Who Broke The World, was published in January 2009, and although it received a Pulitzer Prize, it’s not one…