Old Age

It’s been 3 years since US equities have corrected more than 10%. But there’s no law about how long rallies can last without a correction.

In any event, as diversified, well-positioned investors (as, of course, we believe we are), does it really matter if stocks fall 10%? or 20%? If it does matter, you probably have the wrong portfolio. For the rest of us, volatility really does equal opportunity.

• 17 Feb, 2017

  Non-Zero Sum

  There are prominent voices (and tweets) urging us to pull back, dig in, and lock the gate. This rising chorus of ...

• 19 Dec, 2024

  Friendships

  Last month, I returned to college for a ceremony honoring my coach. I have stayed in touch with Coach all these years, ...

• 13 Jul, 2017

  Not Dead Yet

  According to the National Bureau of Economic Research (NBER), the self-acclaimed arbiter of economic debate in this ...