Money and Finance
"Views on secular changes are especially important because such changes can trip contrarian investors. Even forward-looking value indicators are anchored to history; shifting anchors can thus cause persistent investment mistakes." -Antti Ilmanen, Expected Returns: An Investor's Guide to Harvesting Market Rewards
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- Nightmare On Wall Street: This Secular Bear Has Only Just Begun - By Ed Easterling
Secular bull markets are great parties. Investors arrive from secular bears really wanting to take the edge off. As the bull proceeds, above-average returns become intoxicating. By the time it is over, the past decade or two has delivered bountiful returns. ...
- Introduction To "expected Returns: An Investor's Guide To Harvesting Market Rewards" - By Antti Ilmanen
Health warning: We should humbly recognize the limits of our understanding. Realized returns are dominated by randomness, structural uncertainty, and rare events. Expected returns are unobservable, at best estimated with noise. We should resist hindsight...
- Socgen's Dylan Grice - Summer Reading List
Via The Tail Chaser blog. Link to: SocGen's Dylan Grice - Summer Reading List ……………….. Books: The Most Important Thing: Uncommon Sense for the Thoughtful Investor Expected Returns: An Investor's Guide to Harvesting Market Rewards Red...
- John Mauldin's Outside The Box: Game Changer - By Ed Easterling
Investors are confronting the reality of the current secular bear market. It is both the consequence of the previous secular bull market and the precursor to the next secular bull. The duration of the current secular bear period is uncertain. Should inflation...
- Position In Focus: Union Pacific
Back in October I mentioned how we were going to be in a lower tax bracket this year compared to last year and most years going forward. We're dropping from the 28% tax bracket all the way to the 15% bracket because of much lower income this year....
Money and Finance
The risk of secular changes
"Views on secular changes are especially important because such changes can trip contrarian investors. Even forward-looking value indicators are anchored to history; shifting anchors can thus cause persistent investment mistakes." -Antti Ilmanen, Expected Returns: An Investor's Guide to Harvesting Market Rewards
...................
Related previous post: Introduction to "Expected Returns: An Investor's Guide to Harvesting Market Rewards" - By Antti Ilmanen
- Nightmare On Wall Street: This Secular Bear Has Only Just Begun - By Ed Easterling
Secular bull markets are great parties. Investors arrive from secular bears really wanting to take the edge off. As the bull proceeds, above-average returns become intoxicating. By the time it is over, the past decade or two has delivered bountiful returns. ...
- Introduction To "expected Returns: An Investor's Guide To Harvesting Market Rewards" - By Antti Ilmanen
Health warning: We should humbly recognize the limits of our understanding. Realized returns are dominated by randomness, structural uncertainty, and rare events. Expected returns are unobservable, at best estimated with noise. We should resist hindsight...
- Socgen's Dylan Grice - Summer Reading List
Via The Tail Chaser blog. Link to: SocGen's Dylan Grice - Summer Reading List ……………….. Books: The Most Important Thing: Uncommon Sense for the Thoughtful Investor Expected Returns: An Investor's Guide to Harvesting Market Rewards Red...
- John Mauldin's Outside The Box: Game Changer - By Ed Easterling
Investors are confronting the reality of the current secular bear market. It is both the consequence of the previous secular bull market and the precursor to the next secular bull. The duration of the current secular bear period is uncertain. Should inflation...
- Position In Focus: Union Pacific
Back in October I mentioned how we were going to be in a lower tax bracket this year compared to last year and most years going forward. We're dropping from the 28% tax bracket all the way to the 15% bracket because of much lower income this year....