• Distractions

    John Bogle, founder of Vanguard, once said "The stock market is a giant distraction from the business of investing." I agree and consider it one of the reasons I think of the stock market as a semi-efficient rather than an efficient pricing mechanism....

  • Awkward Conversations

    "Who's driving???"

  • New Realities--Part 2

    The value of just about anything marketable is usually a combination of objective as well as subjective considerations.

  • New Realities--Part 1

    "...even with a preference for “intrinsic” value, the prudent investor cannot ignore certain technical metrics, such as momentum."

  • 2020...

    Think of something you are truly good at. One of the reasons you are good at it is because your knowledge and experience enables you to override your emotions to make decisions.