“The only discipline that lasts is self-discipline.” Bum Phillips--American football coach at the high school, college, and professional levels Since 1994, DALBAR’s Quantitative Analysis of Investor Behavior (QAIB) has measured the effects of investors’ decisions to...
"It belongs to the imperfection of everything human that man can only attain his desire by passing through its opposite." --Soren Kierkegaard, Danish philosopher, theologian, and poet Bright start to the new year First, let’s take a look back at December. A...
"The idea that a bell rings to signal when investors should get into or out of the market is simply not credible. After nearly 50 years in this business, I do not know of anybody who has done it successfully and consistently."— John Bogle, founder of Vanguard and...
“Come what may, all bad fortune is to be conquered by endurance.” --Virgil, Roman poet, born 70 B.C. We hope your 2019 is off to a rousing start. Whether you reached your personal goals in 2018, faced challenges, or are looking for a 2019 reboot, let’s take a moment...
“You’d be making a terrible mistake if you stay out of a game you think is going to be very good over time because you think you can pick a better time to enter it.” Warren Buffett General Principles It is worth restating, even in the context of a letter primarily...
“You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.” —William J. Bernstein Diversification of an investment portfolio is a best practice for long-term...
"October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February." —Mark Twain Finally, the month of October is over. What is it about the month...
After a period of relative calm in the markets, in recent days the increase in volatility in the stock market has resulted in renewed anxiety for many investors. From September 30–October 10, the US market (as measured by the Russell 3000 Index) fell 4.8%, resulting...
“Tell me and I forget. Teach me and I remember. Involve me and I learn.” —Benjamin Franklin Have you ever embarked on a home improvement project? You are confident you can complete the task, but you are unfamiliar with the details. You need guidance from an expert....
“This is the single greatest challenge long-term investors face: finding new reasons not to sell.” Michael Batnick, Director of Research, Ritholtz Wealth Management On August 22, 2018, the U.S. Stock market celebrated a bull run of 3,453-days. This is the longest...