One of my favorite charts on investing is the Callan table of investment returns. The chart depicts the return of various asset classes1 from year-to-year, and just a glance at it shows how volatile relative… Read More
Market History and the Return on Everything – How Should You Invest?
I was listening to a podcast recently with Ray Dalio, founder of Bridgewater Associates, one of the largest and most successful hedge funds in the world. A theme Dalio returned to several times was the… Read More
Tax Loss Harvesting – Another Free Lunch?
Had Harry Markowitz thought about it, he probably would have considered tax loss harvesting a free lunch. Markowitz was a seminal figure in the academic study of investing, and he famously called diversification the only… Read More
Realistic Investment Expectations
Bear markets are a preoccupation for many investors and they are one of the primary reasons that the idea of timing the market is attractive. But the reality is that bear markets are the exception… Read More