
Taking Stock
Uncertainty over the public and economic impact of the coronavirus pandemic will keep markets extremely volatile – but admist such uncertainty, it’s a particularly good time to take stock of long-term return prospects.
Uncertainty over the public and economic impact of the coronavirus pandemic will keep markets extremely volatile – but admist such uncertainty, it’s a particularly good time to take stock of long-term return prospects.
Understanding the origins of wealth inequality is critical in the debate over what, if anything, to do about it. Are investment fees and taxes really to blame, or is there something else at play?
Investing is arguably about making predictions and placing bets accordingly – but there are some strategies where your predictions are correct, but you lose money anyway!
By Victor Haghani and James White Most of us working in the finance industry are used to being regularly called on to predict where different assets are heading. We figure […]
Last week, financial journalists tackled the lottery jackpot of $1.54 billion. We loved their work, but there was one question left unanswered…
When it comes to the long-term return of the equity market, our framework strikes many investors as high (at 5.3% above inflation) compared to the most popular valuation ratio.
Most of us associate the maxim “A penny saved is a penny earned” with Benjamin Franklin, but what he actually said is far more insightful: “A penny saved is two pence clear.”
The ongoing attack on stock-picking waged over the past 65 years now has the upper hand – it’s become part of the conventional wisdom that investors should invest primarily in index funds.
Early in the 1950s, academics and investors started proposing a variety of summary statistics to capture in a single number the quality of an investment – no small feat, as history shows.
The 12-month winning streak of the stock market through the end of October reminded me of a Friday afternoon on the Salomon trading floor…
In a world with two classes of assets – cash and equities – how can investors in aggregate increase their allocation to equities (given that, for every buyer, there has to be a seller) and so cash can’t come into or leave the market?
I was 25 years old and had been on John Meriwether’s Arb Desk for just over a year, following two years working in Salomon’s Bond Portfolio Analysis Group…
While there may be reasons to worry about the current price levels of U.S. equities, but…
An investor once told us she wanted to add to her account, but felt the market was so high that she should wait for a correction before investing.
A few friends asked me how to go about putting more of their savings into the stock market. Is it better to jump in all at once, to average-in over time, or to wait for a market correction?
Most think of equities in terms of price, rather than yield – but, as we discuss below, equities do have important convexity properties.
In today’s world, it’s natural that many investors are looking for ways to earn a good return with limited equities exposure. Are the more common strategies working, or is there a better solution?
You can invest in only two assets: a risk-free asset and public equities. Your choices are: A) 100% risk-free, or B) 10% risk-free and 90% equities. What sort of returns would make you choose B?
You’re invited to a financial talk, but when you arrive, you’re offered $25 to bet on the flip of a coin for thirty minutes. How would you play?
It seems just about everyone I talk to these days is underwhelmed by the long-term expected return of the global stock market. I, too, am more worried than usual…but not for the same reason.
In this short video, we’ll discuss the five perspectives on stock market risk – and, more importantly, which is the most relevant for you and your various investing objectives.
We’re taking a moment to address a few lingering questions and comments from our recent short video, ‘The Most Important Number You Won’t Find in the Wall Street Journal’.