In this podcast, I lament the quick-draw narratives that seem to drive short-term market volatility.

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It’s sometimes (often lately?) a challenge to support the idea that history suggests investors should be more interested in owning a wide swath of companies about which barely anyone knows anything. These companies, generally smaller and definitionally less glamorous than their higher-notoriety cousins, are real companies with real businesses that have inherent values. Investors have […]

Investment hypotheticals are imaginary scenarios of portfolio returns. They are summaries of theoretical past or future circumstances that can serve as powerful tools for instruction. We think they can be particularly effective when the goal is as much to convey how investment math works as it is to convey the results of that math. We […]

The are many questions regarding market expectations that we tend to find sufficiently addressed using historical data. “What’s your outlook for returns over the next x years?” generally gets a, “Well, historical x-year returns show a range of y% to z%, so likely something within that range.” The answer may not be satisfying, but it […]

This session, I ponder the motivations of and position our work against the "do this now!" punditry.

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