It has been a tough decade for value investors. Over the last ten years, it’s trailed growth to the largest extent since the inflating of the dot-com bubble. The chart below shows that the Value stocks, as represented by the Russell 1000 Value Index, have underperformed growth stocks over the last ten years by 61%. I…

Amazon gained 56% in 2017. Google gained 33%. Apparently that wasn’t enough. Year-to-date they’ve tacked on another 12.5% and 10.6% respectively, adding a combined $147,782,647,497 in market capitalization. Amazon’s market cap was $70 billion in 2011. It just added the equivalent amount in fourteen days. That’s bigger than Colgate-Palmolive and General Motors and Marriott and…

Articles Bill Sweet is the man. By Barry Ritholtz Growth can always surprise to the upside, and high valuations can always go higher. By Jesse Livermore Scale brings a lot more of everything — the good and the bad. By Brent Beshore It now has 542,000 employees. By Nick Wingfield and Nellie Bowles You’ll never…

Nobody Wants to Read Your Shit But here’s some advice if you want to write anyway.  Research Affiliates is not too keen on the 60/40 portfolio.  Two-year treasury now higher than S&P 500 dividend yield. What the finance industry was like when Peter Bernstein came into it.  The worse regular civilization does and the less…

We’ve heard about the death of the traditional 60/40 portfolio for a few years now. With the benefit of hindsight, and some valuation expansion, it appears it was buried alive. This boring, two holding portfolio (Barclay’s Aggregate Bond Index, S&P 500, annual rebalance) has had positive returns for nine straight years. $1 has compounded at…

I was self-conscious when I began writing five years ago. I thought, “just what the world needs, another blogger.” This same thought was front and center when Ben and I were deciding whether or not to start a podcast. The biggest lesson I learned from producing content is this: Don’t worry about what the world…

Articles The lifecycle of a novel investment strategy. By Ben Carlson Different times, but similar thinking. By Nick Maggiulli If you aren’t paying, you aren’t the customer. You’re the product. By Daniel Egan Complexity bias is interesting because the majority of cognitive biases occur in order to save mental energy. By Shane Parrish Inflation bets are…

CAPE Fear: Why CAPE Naysayers Are Wrong As Dow Tops 25,000, Individual Investors Sit Out Bracing Yourself For a Possible Melt Up Bubbles for Fama Is Saving 10% Enough For Retirement? 10 Things Investors Can Expect in 2018 How We Got to Now is one of the best books I’ve read in a while. Past…

Articles Sitting on the couch watching my stocks dive up and down on CNN all day, or going on a cruise or two before I die, isn’t for me By Candice Reed If you’d told yourself a story for 35 years and suddenly discovered it wasn’t true, how would you react? By Ramit Sethi Many…

There is so much amazing information out there that it’s just impossible to read it all. So every time J.P. Morgan updates their Guide to the Markets, I skim the first 20 or so and then give up. But this year I went through all of them and picked out my favorite slides, for your viewing pleasure….