For those who keep score — namely, the financial news media — last Thursday marked a milestone: For the first time in a long time, Bill Gates was no longer the richest person in the world. Instead, that distinction went to Jeff Bezos, the founder of Amazon. This probably doesn't come as any [...]
Eight ways to ignore the stock market
“Stock Market Hits New High” Have you noticed headlines like this lately? Since March of 2009, when the S&P 500 Index hit a low of 666, the market has more than tripled. And it keeps going higher. In fact, headlines like this have become so frequent that they are no longer remarkable. The [...]
If you must…
Anyone who follows my work knows that I am a staunch advocate for index funds and believe that stock-picking is a very difficult road. That said, there are some undeniable facts about stock-picking: All of the great fortunes -- Rockefeller, Carnegie, Gates, Buffett -- were earned by way of owning [...]
Does the market “know” anything?
Yesterday saw an odd juxtaposition. In Washington, the Senate conducted hearings into allegations of misconduct inside the White House, with potentially serious implications. Meanwhile, on Wall Street, no one seemed to mind very much. In fact, the market hit a new all-time high on Thursday [...]
Pit bulls, personal assistants and Ponzi schemes
Each year around this time I think back to the day of my college graduation. As a final send-off, after the ceremonies, the school held a luncheon for the graduating class. At this luncheon I happened to be seated next to a well known alumnus of the school. This fellow had graduated in the 1950s and [...]
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