Brent Patton

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180 Years of Stock Market Drawdowns

“We tend to be inadequate historians.” – Robert Frey A couple weeks ago I covered a little discussed topic involving the use of historical market …

Investing

The Worst Bear Market That Nobody Ever Talks About

The longest bear market didn’t begin in 1929 or 2007, but rather on January 11, 1973 [i]. The 437 days from peak-to-trough gave birth to many …

Stock Markets

Stock Market Valuations Won’t Predict the Next Crash

A large number of people have rightly been pointing to higher valuations to temper investor expectations about future returns. The problem is many of …

Stock Markets

When Small Caps Finally Joined the Party

While the markets have been rocking across the globe in 2017 without a hint of volatility, the current bull market hasn’t always been easy. The S&P …

Investing

2017 Has Been a Remarkable Run For Stocks

“The easy money has been made” is one of my least favorite sayings in all of finance because you can only know this with the benefit of hindsight. …

A Closer Look at Ray Dalio’s 1937 Scenario

Investors often evoke the old saying that history doesn’t repeat but it does rhyme. The problem is even when market scenarios do rhyme the …

This Time Really Is Different

People in finance often say things because they make for good sound bites but don’t actually back them up with solid reasoning. Sound bites make you …

Managing Sequence of Return Risk

In the 30 years ended 2016, the S&P 500 returned just over 10% per year. Compounding at that rate, fifty grand invested at the start of 1987 would …

Retirement

America's Top Bond Manager Never Falls in Love

Pimco's Kiesel keeps a sharp eye on debt metrics and doesn't get carried away.<p>The best manager of bonds in America refuses to pay full price. He buys his clothes once a year to get a 40 percent discount. He sold his home, put his belongings into storage and rented an apartment in 2006 because he …

Investing

Warren Buffett thinks the 'elite' have wasted $100 billion ignoring his best investment advice

Warren Buffett's Berkshire Hathaway will publish its annual letter to shareholders on Saturday.<p>The letter always covers a bunch of topics, with the 2017 edition touching on everything from stock buybacks to Buffett's favorite book of 2016. But many readers are most interested in Buffett's words of …

Investing

How Market Crashes Happen

Charlie Munger has long championed the benefits of acquiring worldly wisdom through the development of mental models which utilize a number of …

Stock Markets

JPMorgan's complete guide to everything happening in the markets

Markets, it seems, expect him to make sweeping changes to policy, but there is considerable doubt whether the euphoria will last long.<p>A bunch of risks from 2016 carry over into 2017, though, including currency and debt worries in China and lackluster growth in the US and Europe.<p>JPMorgan provides a …

JPMorgan Chase

Ray Dalio interview on Bridgewater and fake news

<b>Bridgewater founder, chairman, co-CEO, and co-CIO Ray Dalio. Bridgewater Associates</b><p><i>Ray Dalio is the founder of Bridgewater, the world's largest hedge fund.</i> <i>A week ago, his team reached out to me to propose an interview. Mr. Dalio, they said, wanted to discuss the problem of "fake news" and</i> …

Journalism
Investing

The Hierarchy of Investment Difficulty

Being the “investment guy” in the family means I’m often approached during the holidays or at parties with questions about the markets. My most …

Investing

The Agony of Investing in Small Cap Stocks

Last week my colleague Michael Batnick pointed out that small cap stocks have seen the equivalent of both a bear and bull market this year alone: The …

How Bad Could Bond Market Losses Get?

Financial advisor Ric Edelman gave Howard Gold at MarketWatch some pretty sobering thoughts on the bond market this past week: “The typical investor …

Stock Markets

20 Things You've Been Doing Wrong in the Kitchen Your Entire Life

Are you scrambling eggs, making chocolate chip cookies, and measuring pasta the right way? It might not seem obvious, but there are plenty of basic things you could be doing the "wrong" way in the kitchen. There's somewhat of an art to cutting a lime, cooking chicken, mincing garlic, and roasting …

Breakfast

1929 vs. 2000

From the peak of the tech bubble in early 2000 the returns on the stock market have been underwhelming. In fact, if you line up the peak of the …

Monitoring risk & rebalancing | Vanguard

Monitoring your risk level & rebalancing<p>Remember that asset mix you chose? Check your investments against it and rebalance when needed so you don't …

Stock Market Returns Are Lumpy

“The average long-term experience in investing is never surprising, but the short- term experience is always surprising.” – Charley Ellis The stock …

Stock Markets

Taking Stock of European Equities

The Brexit vote has dominated the financial and political news cycle for the past few days (and rightly so). People are angry, confused and there are …

Stock Markets

Here are the 67 most important investors of all time

I analyzed the birth dates of the most important investors of all time. Ten observations were made.<p>This is an incomplete list. It does not include …

Investing

Lessons From Losing Big

What I Learned Losing a Million Dollars is easily one of the most underrated investment books I’ve come across. The book was actually first published …

Deconstructing 30 Year Stock Market Returns

One of the most impressive long-term stock market statistics has to be the historical 30 year returns on the S&P 500: This graph shows the rolling …

Stock Markets

When Mediocrity Trumps Brilliance

The index investing revolution has made it abundantly clear that many investors are now starting to understand the zero sum nature of active …

Investing

180 Years of Market Drawdowns

“We tend to be inadequate historians.” – Robert Frey A couple weeks ago I covered a little discussed topic involving the the use of historical market …

Investing

Mean Reversion From the Lost Decade

A decent bull market sandwiched between two of the most brutal bear markets in history produced one of the worst 10 year stretches ever in the S&P …

Investing

The Only Way the 99% Should Invest in the Stock Market

I often get random questions from family members, friends, colleagues and social media followers that sound something like this: <b>“I want to invest but</b> …

Investing