Successful investing is often more so about how to avoid bad ideas than it is about finding the right ideas.¹ In the last year there has been no place worse [ … ]
Category: Most Recent Stories
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 [ … ]
John Bogle is Wrong About Index Funds
It takes an unusually stupid person to disagree with John Bogle so I’m happy to announce that you’re reading that unusually stupid person. I’ve disagreed with Bogle on numerous occasions [ … ]
The Economics of Le’Veon Bell’s Gamble
The Le’Veon Bell drama has created some financial excitement in the NFL. For those who aren’t familiar with this situation, here’s the short version: Bell, who plays for the Pittsburgh [ … ]
Pop Quiz, Hotshot
Okay, so you all know I am all about operational reality. And although the financial markets and the economy aren’t exactly like the physical world there are certain operational and [ … ]
Three Things I Think I Think – What In the Hell is Going On Out There?
Here are some things I think I am thinking about.
The Pragmatic Voting Guide for the 2018 Mid-Terms
Many people think that the purpose of a Constitutional Republic was to protect against the tyranny of the government, but the founders of the United States also wanted to construct [ … ]
No, The Government Didn’t Cause Unemployment
There was a big blogosphere kerfuffle in the last few weeks between some Modern Monetary Theory (MMT) people and a bunch of economics and finance people I greatly respect (Simon Wren-Lewis, [ … ]
Why Does the Stock Market Rise and Fall?
Whenever the market falls people wonder why it’s happening. There are always lots of creative stories and they’re probably right to some degree, but the reality is that the stock [ … ]