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Watch as Eric D. Nelson, CFA, of Servo Wealth Management demolishes the bubble meme in a new post at his blog this week… Probably the best method of “bubble detection”, to the extent such a thing is even possible, is to simply observe an investment’s recent past performance history to measure how far in excess…

This week’s must-read is the latest memo from Oaktree’s Howard Marks, in which the investing legend ruminates on the current state of risky behavior in the markets. There is a great deal of nuance in his analysis, rather than the more typical “THIS IS 2007” or “NO, THIS IS NOT 2007” you’ll find everywhere else….

My pal Jeff Hirsh from the Stock Trader’s Almanac has gotten around to updating what I call My Favorite Chart on Earth. The basic idea behind this is that major wars are funded with massive government spending and this money always finds its way into the economy eventually, causing prices and wages to rise along…

Each year on Thanksgiving I take stock of all the things in life I have to be thankful for. And when my mind turns to this subject, I always end up thinking of you – my readers, friends and supporters here at The Reformed Broker blog. Thank you for reading, reacting and sharing my work…

Let’s play a game. Imagine you could only have four positions in a portfolio between now and year-end, of equal size (25% each). Obviously this is nuts, call it a gun-to-your-head thing. No one would advocate doing this in real life but it’s a helpful exercise in determining your true highest-conviction investments at any given…

“Opportunity abounds” – long-only equity guy “Stockpicker’s market” – asset management firm “Risks remain” – guy who runs a Black Swan fund “Expect volatility” – trader “Staying constructive” – sell-side analyst “On track.” – financial advisor “Dislocations exist” – hedge fund manager “Buy, Sell” – stockbroker “Yes, however…” – economist “Headwinds persist” – Chief Strategist…

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