…returns. His big insight was to combine value investing with momentum, not just in stocks but across all asset types like bonds, commodities and currencies. Ultimately, he left Goldman to…
…Shiller PE ratio compares the current market price to the average inflation-adjusted earnings for the previous 10-years. The chart below shows the Shiller PE ratio (in blue) back to 1926….
…poorly compared to their NAV because many stocks weren’t trading – almost 50 percent of stocks on the NYSE did not open for 10 minutes. When not all of the…
…the CBOE Volatility Index, or VIX as it is commonly known, that measures the markets view of expected volatility over the next three months. Early in the year, traders expected…
…fell -23.1 percent, while the market only dropped by -3.1 percent. Maybe I would have hung on since it was up 84.6 in 1989, but I probably would have sold…
…for each company in the index and then divide by the number of stocks in the index. When Charles Dow first created the index in 1896 for the Wall Street…
…on the big, systematic sources of return like value, momentum, size and quality. They have their risks of course, but nothing like a concentrated bet on a single company with…
…stocks were down -5.0 percent respectively, and technology fell by -4.0 percent (which is a signal that the stock selloff wasn’t entirely bond-related). Although there were a variety of factors…
…prices. That implied insurance doesn’t work perfectly. Take the 2008 global financial crisis: the stock market lost -55 percent, but there is no question that the Fed’s policies kept stocks…
…With that as a strong caveat, I am going to say that it will come in between $56 – $69 per barrel (choice C on the quiz). The first two…
