Why the Efficient Market Hypothesis Is Bunk
"I believe there is no other proposition in economics which has more solid empirical evidence supporting it than the efficient market hypothesis." - Michael Jensen, Harvard Business School...
Market Analysis
Why the New Bearishness Is Good for Stocks
In my last column, I explained why stock returns over the next decade are likely to be far less than returns over the last decade: high valuations. At...
History’s Best Stock Market Indicator Is Flashing Red
History’s best stock market indicator is flashing red right now, indicating a high probability that future equity returns will be far lower than average. No investor can afford...
There’s Usually a Bull Market Somewhere
"I have no boundaries. I am totally flexible. I am open to everything and I pursue everything. I have no more compunction about speculating in Singapore dollars or...