3 min read
Logic Produces Gradual Change, Emotion Produces Rapid Change
Say that you were studying for a Ph.D. in history. Over a number of years, your knowledge of the subject would increase. Week by week, month by
Tag : Stocks – ValueWalk
3 min read
4 min read
The Investment Issues That We Cannot Talk About Are The Investment Issues That We Most Need to Talk About
Have you ever had a friend who was an alcoholic? If you have, you know how frustrating it can be trying to get one of the humans to focus on what is
4 min read
What Is the Meaning of the Word “Overvaluation”?
We all know what the word “overvaluation” means. But we all pretend not to know. If we didn’t, the CAPE value could never rise to the level
4 min read
Valuation-Informed Investment Strategies Are An Exercise in Time Travel
Valuation-Informed investment strategies are an exercise in time travel. Today’s CAPE value is 35. That’s double the fair-value CAPE value of 17.
4 min read
The Absurdity of Buy-and-Hold
The Buy-and-Hold “idea” is an absurdity. I know that many people will find that a provocative and offensive and probably ill-informed statement.
4 min read
Stock Prices Drift Upward Unless Most Investors Practice Market Timing
The most important question in stock investing is whether investors are rational and always set prices properly or valuations affect long-term
4 min read
The Most Important Choice That A Stock Investor Makes
I’ve heard it said that the most important choice that an investor makes is the amount of his stock allocation. I can see it. Choices That A
4 min read
The Most Important Choice That A Stock Investor Makes
I’ve heard it said that the most important choice that an investor makes is the amount of his stock allocation. I can see it. Choices That A
5 min read
Before His Death, John Bogle Relaxed His Opposition to Market Timing
The late John Bogle was widely perceived as a severe critic of market timing. For good reason. Bogle had a riff that he liked to use in speeches in
5 min read
Before His Death, John Bogle Relaxed His Opposition to Market Timing
The late John Bogle was widely perceived as a severe critic of market timing. For good reason. Bogle had a riff that he liked to use in speeches in
3 min read
Ten Characteristics of Irrational Exuberance
There are two types of stock gains. There are real gains, which are rooted in economic productivity, and there is irrational exuberance, which is
3 min read
Ten Characteristics of Irrational Exuberance
There are two types of stock gains. There are real gains, which are rooted in economic productivity, and there is irrational exuberance, which is
4 min read
All Discussions of Stock Investing Should Acknowledge That There Are Two Schools of Academic Thought re the Basics
Shiller changed everything that we once thought we knew about stock investing when he published research showing that valuations affect long-term
4 min read
All Discussions of Stock Investing Should Acknowledge That There Are Two Schools of Academic Thought re the Basics
Shiller changed everything that we once thought we knew about stock investing when he published research showing that valuations affect long-term
4 min read
The Size Of An Investor’s Stock Portfolio Tells Him How Well He Has Done With His Life
Robert Shiller’s research brought on a “revolutionary” (this word appears in the subtitle of Shiller’s book) advance in our understanding of