Equity Market Outlook
over a long time span, the impact of investment returns trump the impact of speculative returns.8
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
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A central theme in Howell’s analysis is the assertion that liquidity flows have become crucial in understanding the modern financial landscape. In recent years, particularly since the global financial crisis, the nature of capital investment has evolved. Interest rates, which historically served as a critical indicator of capital allocation, have b... See more
The Dynamics of Global Liquidity and Cycles
Say you are a pension fund that needs an 8% return to meet its liabilities without difficulty. And say that stocks have been inflated to the point that you can in all honesty expect only a 2% return over the long run from here given reasonable assumptions about valuation metrics returning to something sensible at some point. You might be tempted to
... See moreSacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
However, here in the 2020s the bond market is riding on a lot of reputational momentum. The things that made it the smart money previously are now largely gone. That’s not to say that the people trading it are any less intelligent than before, but rather it is to say that the structure and size of the market is such that intelligent bond traders ar
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