Given the severity of recent events I want to start writing more broadly and providing more in-depth research pieces. I’ll be starting to publish long form letters on topics of [ … ]
Category: Investment Strategy
3 Reasons to Hold Long Bonds as Short Rates Rise
As short rates rise the tendency for novice bond investors is to believe that the short end of the curve suddenly makes it irrational to hold any long-term bonds. While [ … ]
Do Bonds Still Diversify When Rates Rise?
Rates have inched up enough now that if you squint your eyes you can see the change on a 40 year chart. I say that partly in jest, but the [ … ]
Why Does the Rebalancing Bonus Work?
One of the best parts about Twitter is that you can follow super smart people and just read their interactions. For instance, yesterday I was creeping on Jeremiah Lowin, Jake [ … ]
The Best Investment Strategy: DISCIPLINE
I was reading this article in the NY Times about a wide ranging diet study. They performed a meticulously controlled test to study what type of diet works best. Their [ … ]
How to Overcome Your Fear of Bonds
I specialize in building relatively conservative “all weather” style indexing portfolios. They are designed for people who have a reasonably long time horizon (at least 5-10 years), don’t want to [ … ]
What Will Happen to Bonds if Interest Rates “Normalize”?
There’s a lot of chatter out there about rising interest rates and “normalizing” rates. As I’ve written about before, I think most of these fears are a case of short-termism [ … ]
Why Does Momentum Investing Work?
When you’re choosing an equity market allocation I generally prefer to keep things simple – just buy a low fee global market cap weighted portfolio and call it a day. [ … ]
Why Indexing Works
I am a big advocate of low cost diversified indexing in much the same way that most Vanguard funds work. The reason for this is simple – it’s been proven [ … ]