Do the Buy-and-Holders Believe in Buy-and-Hold?
Do the Buy-and-Holders believe in Buy-and-Hold? Yes and no. I believe that they follow the strategy themselves. This would be … Read more
Do the Buy-and-Holders believe in Buy-and-Hold? Yes and no. I believe that they follow the strategy themselves. This would be … Read more
Practice market timing (that is, lower your stock allocation when valuations go very high and increase it when valuations go … Read more
Irrational exuberance – it’s a bad thing. Shiller’s book title does not have an exclamation point at the end. It’s … Read more
The safe withdrawal rate is 4 percent. You hear Buy-and-Holders say that all the time. The idea is that a … Read more
Think what it means for irrational exuberance to be a real phenomenon, as Robert Shiller’s Nobel-prize-winning research shows to be … Read more
I was once very popular. No – really! From May of 1999 through May of 2002, I posted on the … Read more
There once was a time when it was widely believed that the stock market was “efficient.” This is something that … Read more
People spend more when stock prices are high. It’s so obvious that it’s a silly thing to say. But I … Read more
Irrational exuberance. Shiller published his book by that name in early 2000. He published the research showing that irrational exuberance … Read more
Does market timing work? Most stock investors would answer “no” to that question. There are some who try it from … Read more
I wrote last week about how statements discouraging market timing/price discipline are wealth destroyers. It would be impossible for the … Read more
Robert Shiller has described the intellectual leap from the finding that short-term price changes are unpredictable (University of Chicago Economics … Read more
Stock prices are up because technological innovations have the potential to bring in an era of increased economic productivity. Stock … Read more
We are as a people still in the process of coming to understand how stock investing works. I believe that … Read more
Buy-and-Hold makes sense. I don’t like it. I believe that the relentless promotion of the Buy-and-Hold strategy, especially the claim … Read more