Bear Markets/Crash

Trend Following

that’s what we’re doing here, in this profession – getting our people through to the other side.

Incoherence

If stocks get cut in half and the economy’s participants all decide to get “risk-off” in their posture and their allocation decisions, the coins are going down.

Indiscriminate selling

There are a few green stocks in the market today, and by “a few”, I mean you can count them on two hands and still have a few fingers left over. To gag yourself with. Those green stocks are things like Kohl’s (a special situation takeover story) and then it’s like grocery stores and shoe…

Knowing the difference between Risk and Deep Risk

Bill Bernstein is widely known among professional investors as one of the best writers and thinkers in the industry. Two of his books, Deep Risk and The Investor’s Manifesto, belong in any conversation about the most important investment books ever written. Bernstein doesn’t appear on TV nor does he do much public speaking. So this…