These Are the Goods

Articles Don’t ever feel sorry for a vendor. He knows what he can sell for, and we want his bottom price.’ By Zack Kanter Free money on the sidewalk is always picked up By Morgan Housel Past outperformance tends to beget future underperformance By Jeffrey Ptak while it is easy to find fast-growing companies, it…

Mee-Lee-Wah-Kay

This week Ben and I spent a day in Milwaukee, Wisconsin. At its peak in the 1960s, it was the 11th largest city in the country. Today, with just over two million residents, it is the 30th largest metropolitan area in the United States. Below is a shot from the window as the plane left…

Animal Spirits: The Expectations Gap

Mention Animal Spirits to receive 20% off (*New YCharts users only) Stories Discussed: How the feds found out about the college admissions scandal Some ides for college Putting investors first, go Dina! How Much Does Getting Into an Elite College Actually Matter? Doubling down on private equity J.P. Morgan’s Guide to Retirement Lifestyle creep Ben’s take on…

Animal Spirits Talk Your Book: The Low Vol Anomaly

Today’s Animal Spirits talk your book is brought to you by Invesco. To learn more about their ETFs, click here. On today’s show, we talk about: What is the low volatility anomaly? Why CAPM doesn’t work within an asset class The three behavioral and structural reasons for the low vol anomaly How often do different…

These Are the Goods

Articles When all you’ve experienced is a bludgeon it’s hard to remember that the next hit could just be a little smack By Morgan Housel Nobody thinks they have joined a cult By Bob Seawright Nobody has a clue how any of this stuff works By Christopher Haigh The internet has unlimited shelf space By…

You’re a Liar

Brendan Mullooly asked a bunch of people the following question: What do you consider to be your biggest behavioral bias (as it pertains to investing or personal finance) and how do you work to control it? My answer: Hindsight bias was my biggest hurdle to overcome. Hindsight bias makes one part of our brain lie…

The Twenty Craziest Investing Facts Ever

1. Since 1916, the Dow has made new all-time highs less than 5% of all days, but over that time it’s up 25,568%. 95% of the time you’re underwater. The less you look the better off you’ll be. 2. The Dow has compounded at less than 3 basis points a day since 1970. Since then…

Animal Spirits: Where Were You At the Bottom?

Mention Animal Spirits to receive 20% off (*New YCharts users only) Stories Discussed: What happened to recessions? Bill Gross is now retired The ETF War How to value Lyft before its IPO People are using their credit cards Survey Chasing hot hands Nobody wants long/short funds Changing your mortgage payments Guide to alternatives Why do people move?…

Just Save More Money

The chart below comes from J.P. Morgan’s guide to retirement.   I like how they frame retirement in terms of things you have total control over, things you have some control over, and things you have no control over. The items they’ve identified as out of your control are pretty cut and dried. Markets owe us nothing….

These Are the Goods

Articles They are being robbed every single day By Ryan Krueger It’s time for young people to stop blaming others for their problems By Ben Carlson Most of the social media networks we study generate much more social capital than actual financial capital By Eugene Wei Maybe there is a better way to discuss money…