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.

• 9 Dec, 2024

  Fireside Reading

  Seven selections for your winter reading, including my Book of the Year. May you have a warm and enchanting reading ...

• 5 Aug, 2015

  Criminals in Diapers

  Japan grew from the (literal) ashes of the Second World War to become the second largest economy in the world by ...

• 17 Feb, 2015

  Patience

  Interest rate cycles are long: lasting not years, but decades. Consequently, we don't have many data points for ...