Fallacies around the truth of what drives the market
The top-performing 2.4% of firms account for all of the $US 75.7 trillion in net global stock market wealth creation from 1990 to December 2020
portfolio management
Investing expertise can be learned
It is only by working at what you can’t do that you turn into the expert you want to become.
There’s a time to hold ‘em and a time to fold ‘em.
The investment principles around selling losers and holding winners are one of the most important and subtle topics in investing; laden with psychological pitfalls
How I invest my money
This approach has worked
An overarching portfolio strategy
In sports, in war and in the battle for investment survival it is helpful to distinguish between strategy and tactics.
The problem with analysts’ target prices
The sell side analyst’s target prices do not estimate fair value. DCF estimates do just that. Investors should not confuse the two.
My investment plan for 2021
Plan for the worst. Hope for the best. And don’t agonize.
Let’s cut to the heart of how risk and uncertainty impact diversification
Diversification is inadequate as a risk management technique and too primitive for the new environment of volatility and uncertainty.
An all bank portfolio, ETFs and mistaken notions of diversification and balance
As the play, The Merchant of Venice, unfolds, all of Antonio’s ships sink, his business collapses and Shylock demands his pound of flesh.
The pitfalls of a sector rotation strategy
Investing based essentially on the business cycle outlook is a fools’ game.
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