Sublime

When any one global market (even one as big as the United States) is the only one to reach a new high, it qualifies as a global divergence.

It sounds trivial, but thinking of market volatility as a fee rather than a fine is an important part of developing the kind of mindset that lets you stick around long enough for investing gains to work in your favor.

pioneer of modern portfolio theory

would be about equivalent in most cases.)†

most money and credit

He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less than the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state’s means of exchange.