December 2018

These Are the Goods

Articles The starting point for any question about price in the future ought to begin with price in the present By Josh Brown Outliving one’s financial assets is something to consider insuring. By Blair duQuesnay In the end, it doesn’t matter what caused something to stop working, only that it did. By Nick Maggiulli Shifting…

A Mostly Random Walk Down Wall Street

During a time out at every Knicks home game, a giant spinning air gun is brought onto the court and pointed at the crowd. People of all ages lose their freaking mind, hoping to be one of the lucky ones to catch what can only be described as a parachute sized t-shirt. I’ve never seen…

The Law of Large Numbers

“Apple is so big, it’s running up against the law of large numbers.” This was taken from a New York Times article in February 2012 when the market capitalization was…$487 billion. Another NYT article from 2014 states that “What makes Apple’s challenge particularly daunting is the law of large numbers. Its sales are so big…

Animal Spirits: The Sellers Are in Control

On this week’s Animal Spirits, we discuss The couple who retired in their 30s And how they did it How to retire on a fixed chunk of money When FIRE goes wrong Steak dinners Judge Judy is very rich The sellers are in control  Correction could be bullish Listen here: Tweets mentioned This is a…

Animal Spirits Talk Your Book: Investing in Commodities

Today’s Animal Spirits Talk Your Book is presented by Graniteshares Topics discussed Boom and bust nature of commodities What is the role of commodities in a portfolio — manage risk or price appreciation? Why would commodities add a risk management component to a typical portfolio? Do commodities need inflation to do well or is it…

These Are the Goods

Articles There are many tooth fairies in the world, but, the question is, do you want to crack open your eyes to see them? By Nick Maggiulli Semantics play a huge role in investing By Tadas Viskanta You don’t have to speculate like optionsellers.com to be caught short volatility at the wrong time By NeckarValue…

A Second Challenge to Judgment

The first edition of the Journal of Portfolio Management opened with an article from its founder and editor, the great Peter Bernstein. In What this Journal is About, he wrote: The maiden issue of this Journal appears at a critical time for our profession. The dismal of record of portfolio management over the past five years…