Readers regularly ask what can go wrong but almost never what could positively surprise.
Over rolling long periods, U.S. and non-U.S. stocks tend to equalize.
When I was a young man in the 1970s, tech firms were scattered across the developed world. Since then, America has come to dominate tech almost totally.
Originally, I thought Republican. Now I’m an equal opportunity politician-hater.
Many follow a rule of thumb – no more than 5% in one stock. But that’s not the entrepreneurial road to riches.
Normally, the market peaks before bad news emerges. That’s what happened in 1929, and that’s what happened in 2000.
In a bubble, anyone who argues pessimistically is seen as crazy.
I’ve done well over time but made lots of mistakes, too. Learn from your mistakes.
Fundamentally cheap stocks are often held in low regard by market participants. Something may be tainting their perception in investors’ minds.
I can find only one bull market, in 1935, that didn’t have some material indigestion within its first 12 months.
China’s stock market is inextricably tied to politics.
Both cheap value stocks and more glamorous growth stocks can work well in a portfolio – if done right.
Buy into good, well-researched companies and then wait. Let’s call it a sit-on-your-hands investment strategy.
All equity categories, correctly calculated, create near-identical lifelong returns. They just get there via wildly differing paths.
Windmills and solar cells are carbon-free sources of electricity. But they are costly. If you’ve been investing in those, give it up. That game is effectively over.