Thursday, November 12, 2020
The Case Against Using the CAPE Ratio for Relative Valuation Across Markets
Bloomberg has an article You May Regret Staying Parked in U.S. Stocks which made the case that there’s "widespread agreement" an...
Tuesday, August 27, 2019
Mind the Gap? Rethinking the Investor Gap Equation
Morningstar released the latest version of Mind the Gap , an annual piece which shares with its readers analysis that "measures the co...
Tuesday, May 7, 2019
F@ck Everything... We’re Going 120/80
Jeremy had spent most nights over the previous 30+ years on this earth in search of the next big ETF. After all, you don’t “aspire to be at...
Wednesday, December 19, 2018
Cash or Bonds at Low Yields and a Flat Yield Curve?
The End of an Era? While there have been a few cyclical periods of rising rates over the past 40 years, we've largely been in one l...
Wednesday, September 19, 2018
Market Timing The Credit Cycle
Over the last few years, you’ve likely heard the following competing narratives: “Credit spreads are tight, a sign of exuberance among i...
Wednesday, June 20, 2018
CAPE of Good Hope? P/E Divergence as a Performance Signal
Lawrence Hamtil recently shared a Vanguard paper with me that was surprising given it indicated the trailing twelve month price-to-earni...
Wednesday, January 31, 2018
The Behavioral and Performance Benefits of Trend Following
When we tell our investors to invest for the long run, we have to make sure the short run doesn’t kill them first… Investing for the long ...
Tuesday, December 5, 2017
Can Time Solve the Issue of High Valuations?
“Time solves most things. And what time can't solve, you have to solve yourself.” - Haruki Murakami Recent research by GMO outlined ...
Tuesday, November 28, 2017
Volatility May Feel More Painful the Next Time Around
Stock and bond markets have been extraordinarily quiet since February 2016 lows. How quiet? A 60/40 portfolio consisting of the S&P 500 ...
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