Everyone gives up on strategies that are deemed to be “broken”. It’s human nature. But if a strategy is sound and its recent bout of underperformance falls within a reasonable range of expectations based on history, giving up is probably the worst thing one can do. Coming into 2014, many investors had thrown in…
Joshua M Brown
Thirty Second Course on Asset Allocation
If I only had thirty seconds to teach a young person about asset allocation, I probably wouldn’t bother with anything written. I’d also dispense with any sort of formula, equation or model. Instead, I’d come armed with just one chart and force my erstwhile pupil to spend the entire half-minute staring at it. That chart…
Jeff Wins
In a new profile of Jeffrey Gundlach at Forbes, reporter Matt Schifrin makes no bones about the fact that the LA bond manager is now the undisputed king. This is something I’ve said for awhile now (full disclosure, we utilize DoubleLine Funds for client and personal accounts). Jeff says a lot of interesting and provocative…
Incentives Matter
I had lunch today down in the vault at the New York Yankees Steakhouse in midtown Manhattan with some colleagues from the asset management business and our hosts, EG Shares and State Street Global Advisors. The walls in the dining room (which was once the vault of an old bank) are covered with some pretty…
Nonsense Forecasts
I was on TV the other day next to a guy who goes, totally matter-of-factly: “We should get 8 percent earnings growth for the S&P 500 in 2014 and earnings drive stock market returns so I expect to see an 8ish percent return for the market this year.” My jaw dropped. I don’t even want…
Corporate America Goes to the Polls
How about we stop off at Carvel on the way home? Shut up, Joe. http://t.co/UTRbGMXQKf #Election2014 pic.twitter.com/739mkG2n2n — Downtown Josh Brown (@ReformedBroker) November 5, 2014 As regular readers know, I don’t personally have a political affiliation (I read too much to be a right winger and I work too hard to be a liberal, I…
TURN DOWN FOR WHAT?
Debt ceiling? Insider Selling? Grexit? Shibor? Housing slows? Flash Boys? “Too far, too fast.” Dubai? Taper tantrum? Piketty? IPO bubble? GDP slows? China hard landing? Dr. Copper? Deflation? Egypt? Sequester? Too far, too fast? Boomers rotating to bonds? Death Cross? Presidential cycle? Overdue for a correction? MarketWatch? London Whale? The consumer is tapped out? CAPE…
Nine Surprising Things Jesse Livermore Said
There are those who would convince you that it is somehow smart or in your best interest to be manically switching your investments around, back and forth, long and short, on a daily basis. To pay attention to this kind of overstimulation is the height of madness, even for professional traders. The most storied and…
The Best of TRB: 2014
While I’m gone this week, here are some of my biggest posts of 2014, in case you missed any of them…
Off to Germany!
As you read this I’ll be on my way to Germany, specifically Berlin, for the first time ever. I’m incredibly excited for the journey and the chance to meet with hundreds of the top portfolio managers and advisors from all over Europe. I’m the keynote speaker at Citywire’s annual conference in Berlin and will…
