John Mauldin's Outside the Box: Stay Out of the ROOM - by Ed Easterling
One of my favorite analysts is Ed Easterling of Crestmont Research. We used to get together a whole lot more when he lived in Dallas, but he has since moved to the wilds of Oregon. Ed’s first book, Unexpected Returns, is a classic work that I think is a must-read for all stock market investors.
And now he favors us with yet another book, called Probable Outcomes: Secular Stock Market Insights, in which he takes on the mostly silly research, done by so many analysts, that purports to show what an investor can expect to make from his retirement portfolio over time. I can’t tell you how disastrous this simplistic analysis can be for retirees.
This week’s Outside the Box is an excerpt from this latest book.
………………..
Related books:
Unexpected Returns
Probable Outcomes
- John Mauldin: Time To Row, Or Sail?
A few weeks ago, Ed Easterling and I updated the work we published almost ten years ago about secular bear and bull markets in chapters 5 and 6 of Bull's Eye Investing. This week I am in Maine at the annual Shadow Fed fishing trip (for those of us...
- John Mauldin: Into The Matrix
What does the current environment of earnings and valuations tell us about the prospects for the US stock markets in general over the next 3-5-7-10 years? This week we have part two of "Bull's Eye Investing Ten Years Later," which we started last...
- John Mauldin: Bull’s Eye Investing (almost) Ten Years Later
It's been almost a decade since I co-authored with Ed Easterling of Crestmont Research some research in this letter that later became chapters five and six of Bull's Eye Investing. Although the ten-year anniversary of the book is actually 2013,...
- John Mauldin's Outside The Box: Converging On The Horizon - By Ed Easterling
The end is near! Stock market history and earnings cycle history are converging. As a result, the market is likely to be down for the year 2011 or 2012. If not, then it will have been different this time. Crestmont’s research focuses primarily on long-term...
- Relationship Of Inflation & Price/earnings Ratios (1900 - 2009)
A couple of good graphs linked to below from Crestmont Research. With the completely unprecedented intervention in the markets by governments to date (see the chart on p. 9 HERE for reference to the U.S.), my guess is that the odds for price stability...