A reader asks: There has been a clear distinction in recent years in sentiment data where party/political leaning sentiment goes in the opposite direction depending on who the President is. Anecdotally I have noticed in my friend group, family, social media, and even with some financial professionals online that people seem to be actually making … Read more
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The Economist has a good piece about the growing importance of the stock market on household balance sheets. Here’s the chart that matters: By the end of 2024, Americans owned stocks worth 170% of disposable income which is back at record levels and much higher than in previous decades. The worry here is that a … Read more
Writing is a useful process for me. It’s how I organize my thoughts and learn what it is I really think. It can also be a lonely endeavor. You’re in your own head a lot. I sometimes forget someone is on the other end reading my words. A number of years ago, I received an … Read more
During bull markets there are always certain investors who take things too far. They chase performance, take on too much leverage, speculate on fad investment themes and abandon diversification. Then the tide goes out and we find out who’s been swimming naked as Warren Buffett likes to say. Bear markets and corrections also cause mistakes … Read more