Stocks, Bonds or Gold?

It has been 20 years since the tech bubble burst. And it has been 12 year since the Bear Stearns bailout ushered in the Great Financial Crisis of 2008. Lost in the shuffle? Long-term investing results. Over 20 years, “risk-free” Treasury bonds have handily...

Three Flies in the Stock Bubble Ointment

Quant funds, those that rely on algorithmic or systematically programmed investment approaches, account for roughly 25% of all all U.S. stock trades. Some estimates place that percentage closer to 50%. Either way, the quant fund impact is substantial. It follows that...

“Bottom Timers… Start Your Engines!”

I have never understood the purpose of year-end price targets for the stock market. Every bank issues them. And each year, they offer eternally optimistic views on how the 365-day period will play out. (There’s never a bear in the picnic basket!) The banks are not...

Bull and Bear Price Targeting

I have never quite understood the purpose of year-end price targets for the stock market. Every bank issues them. And each year, all of the banks offer eternally optimistic views on how the 365-day period will play out. (There’s never a bear in the picnic...

The 20-Year Stock Bear

U.S. investors tend to think in terms of what is happening stateside. Yet many of them have a fair amount of overseas exposure. Take the popular Vanguard Target Retirement Fund 2030 (VTHRX) with $40,000,000,000 under management. That’s $40 billion with a...