October 28, 2016
Technically it says a 0.2% chance…. Chart then download: —- —- Download PDF Take the 5% Challenge Website https://www.researchaffiliates.com/documents/Take%20the%20Five%20Percent%20Challenge.pdf
October 26, 2016
Fun read on momentum from the FAJ. And for those interested, here is a fun crowd funding for a private ETF company! Chart then download: —- —- Download PDF Two Centuries of Price-Return Momentum Website http://www.cfapubs.org/doi/abs/10.2469/faj.v72.n5.1
October 10, 2016
Fun quarterly piece from Crestmont on stock market cycles…they have a handful of other charts and publications on the website worth reviewing too. Chart then download: —- —- Download PDF Understanding Secular Stock Market Cycles Website Financial Market and Economic […]
October 6, 2016
Added local real drawdown %: Real Local Drawdown % Australia -7.89 Austria -52.43 Belgium -4.45 Brazil -43.78 Canada -6.15 Chile -39.5 China -35.51 Colombia -36.25 Czech Republic -45.18 Denmark -11.25 Egypt -62.63 Finland -53.49 France -10.96 Germany -13.36 Greece -97.43 […]
October 4, 2016
Quarterly CAPE Ratio Updates! Median CAPE Ratio: 25% most expensive: 23 (U.S. in this bucket) 25% cheapest 10 Average of Foreign Developed 17 Average of Foreign Emerging 14 We’ve mentioned this a lot in the past but bears repeating. We […]
October 4, 2016
Semi annual piece from MS on closed end funds, if that’s your thing…. Chart then download: —- —- Link to articles: Closed End Fund Report Website: http://www.morganstanley.com/
October 1, 2016
Two very good recent pieces from Research Affiliates. One on commercial real estate (I learned a lot in this one) and the second on….factor timing! Chart then download: —- —- Link to articles: Next Season’s Meager Harvest in Commercial Real […]
September 26, 2016
Looong market review from Mark Yusko with lots of quotes by Seth Klarman… Quote then download: —- “Sometimes buying early on the way down looks like being wrong, but it isn’t. You must buy on the way down. There is far more […]
September 22, 2016
Read both of these, they’re great….Bernstein (Bill) and Tetlock. Quote then download: —- CR: Is it also why you emphasize saving, which is to avoid the worst-case scenario of running out of money? WB: Exactly. The other way of looking at Pascal’s […]
September 19, 2016
Long piece from DB…lots of great tables at the end with historical returns, etc. Wowza DB one of the more bearish shops! Chart then download: —- —- Link to PDF: Long Term returns Website: https://www.db.com/
September 16, 2016
13F time with one of our favorite publications, Novus Research. Chart then download: —- —- Link to PDF: Novus 13F Update Website: https://www.novus.com/
September 9, 2016
I’ve never been quite comfortable with resource stocks as a pure substitute for commodities, but this piece from GMO makes a good argument. Chart then link. —- —- Link to article: An Investment Only a Mother Could Love: The Case […]
September 7, 2016
I was going to write a paper on the Coppock Curve a long time ago, maybe I’ll revisit. Ned Davis has some similar results on their site for the DJIA too. His quote, chart, then link. —- “After nearly two […]
August 27, 2016
Cliff and Rob debate their factor timing papers at the Morningstar conference. Full transcript below. Plus, you can subscribe to the M* magazine for free – and you should, it’s very good. No quotes just link. Link to article: Meeting of the […]
August 23, 2016
I’ve received a handful of emails from subs wondering if they’ve missed any emails – nope! I haven’t read much of interest lately, and I refuse to just blast out noise if there isn’t anything of value. So, just wanted […]