“But I don’t own any Chinese stocks!” many individual investors moaned late in the afternoon of Monday, October 26th, “So why has the value of my portfolio dropped?” That’s a reasonable question for investors who have prudently purchased high-quality U.S. stocks, only to see the prices of those ...
read more...
Benchmarking in most businesses makes sense. But in investment, it prompts investors to outsource their judgment to a few indexers that have become the world’s stockpickers of last resort. John Authers, Financial Times One of the best arguments for the success of active management as an ...
read more...
The path from a good investment theory to a good actionable investment is a tricky one. The other day Ben noted how investing requires both narrative and numbers, and neither alone is sufficient. One of the strongest big-picture investment narratives is the long-term growth potential of ...
read more...
When tracking the weather or basketball statistics the end of the calendar year has little effect. January 1st is just another day. Not so when it comes to stocks. According to the phenomenon known as the January Effect, investors—particularly the large institutional investors that dominate ...
read more...
