Joshua M Brown

What happens to your portfolio when (if) interest rates rise?

When (if) interest rates rise, perhaps in 6 months or sometime around when my grandchildren are graduating space college, there will likely be some pressure on various portions of your portfolio. But where? And how bad might it be? And for what duration will the pain last? We can’t know in advance. But we can…

How did the Through-Train Work Out?

Last summer, the biggest catalyst I could see on the horizon for investors was the then-upcoming Shanghai-Shenzhen link to Hong Kong’s stock market. This link, colloquially referred to as the “through-train” was meant to drive liquidity from developed markets around the world into the mainland Chinese shares market, where valuations were substantially discounted owing to…

Ignore the annual first quarter recession

Every year we have a recession in the first quarter and every year people get hysterical. And every year the economy rebounds into summer and the hysterics roll back their estimate cuts and their calls for economic demise. Putting aside why economy-watchers are so easily fooled or confused after so many episodes of the same…

When the flood comes

 . . . on that day all the fountains of the great deep were broken up, and the windows of heaven were opened. And the rain was on the earth forty days and forty nights… All flesh that moved on the earth perished, birds and cattle and beasts and every swarming thing that swarms upon…