Why valuations get more attention (and blame) than they deserve.
Market History
The Cost of Waiting
Why it’s better to invest a lump sum conservatively now than to dollar-cost average over time.
Skewed Expectations
How time affects our perception of the skew in stock performance.
The Price of Admission
Some people think volatility is to be avoided. I illustrate that if you want to earn decent returns, volatility is a feature, not a bug, in stock markets.
The Will To Survive
A historical review of financial and biological systems and why they have a propensity to survive despite the worst of odds.
Nothing is Safe
Wealth preservation over very long periods of time is hard. I discuss the historical evidence surrounding a variety of assets and how they preserve wealth.
Nothing Happens, Then Everything Happens
On the periodic nature of progress and destruction that occurs in both markets and in life.
No Laws, Only Tendencies
The main difference between natural and financial systems is that natural systems tend to have immutable laws, while financial systems only have tendencies.
How to Invest a Lump Sum
When investing a lump sum of money, it is better to do it all at once than to dollar cost average into the market. Here’s why.
Even God Couldn’t Beat Dollar-Cost Averaging
A market timing strategy rarely outperforms dollar cost averaging even when that strategy knows exactly when to buy.