I have no clue what the stock market will do next year (or any year). But I’m very confident about people’s penchant for greed and fear, which never changes. So that’s what I spend my time thinking about. I have no idea who will win the next presidential election. But I’m confident about the ways people’s attachment to tribal identities influences

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I love Voltaire’s observation that “History never repeats itself; man always does.” It applies so well to how we behave with money.

If you grew up when inflation was high, you invested less of your money in bonds later in life compared to those who grew up when inflation was low. If you happened to grow up when the stock market was strong, you

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