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Are Commodities a Necessary Portfolio Component?

Josh here – This is the problem with the clarion calls of the last decade to make commodities a part of one’s asset allocation because they are “uncorrelated” to traditional stock / bond portfolios. The more people adopt this suggestion, the more “financialized” commodities become, and the less helpful for diversification. And everyone adopted this…

The Farce Awakens

One of the worst starts to a calendar year in stock market history. The S&P 500 plunges straight out of the gate and is now 11% off its record high set last year. Volatility brings out the most counterproductive behavior in investors and, almost without fail, brings out the worst sort of advice. Farcical advice, the…