The discussion around Smart Beta gets more ridiculous by the day. This morning I read a highly entertaining bit of nonsense about how smart beta can be used for downside protection. I spit McGriddle crumbs and syrup all over my suit, so my friends at ETF.com owe me a new one. Here’s a truth bomb…

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In mid-October, I made some remarks about the endless frustration for investors in 2015… It’s an old saw that Mr. Market exists in order to frustrate the maximum amount of people, most of the time. I think Ben Graham said that first, like 80 years ago. If confounding the crowd is his job, then Mr. Market…

“I used to think being great at investing long-term was about genius”

I’ve been slaying the non-traded REIT here on the site and in my book Backstage Wall Street for the better part of five years. I’ve never heard a convincing story for why investors should want to buy one and the conflicts abuses of the sales process for these things were so obvious they could be…

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The events that evening in Paris have really shaken me up.

Barron’s made Donald Trump’s shocking degree of economic illiteracy its cover story this weekend.