Why I don’t invest in gold
If the current gold bubble bursts, as the 1970s gold bubble burst, it might take decades for gold investors to recover their investment in real terms without any dividends or interest payments along the way.
bubbles
My thoughts on the Buffett Indicator – current Market Cap to GDP
The best cash flow measure is Warren Buffett’s Owner Earnings. If that is increasing faster than GDP, the fair value of companies will increase faster than GDP
Sentiment and the four faces of risk
Ironically, the four faces of risk reverse actual risk. Risk is perceived to be highest in bear markets; moderate in sideways markets; increasingly lower in bull markets; and, more or less ignored, in bubbles.
The right stuff and successful investing
A lot of people talk about patience, discipline, and courage, but curiosity is one of the reasons great investors find the things they do, and it is also consistent with being a contrarian
Why an all-stock approach to investing makes good sense
Leaving moderate risk in the dust
Disagreeing with Jeremy Grantham’s bubble call Part ll
Warren Buffett terminated his partnership, paid out his investors and went to cash. That’s the only time in his many decades of investing that he has taken such radical action.
Disagreeing with Jeremy Grantham’s bubble call
Among other factors, indicators of extremes of euphoria seem much more important than price
My thoughts about GMO’s ‘GROWTH BUBBLE’
Using trailing twelve months earnings that are impacted by a recession is a mistake
My thoughts on asset allocation
They looked at the allocation between stocks, bonds and cash. They found that over 95 percent of the funds’ returns came from their asset allocation.
Chart distortions that drive me crazy
Going parabolic and other lies
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