A Wealth of Common Sense. Investor, author, and host of Animal Spirits podcast, focuses on simplifying finance for everyone; has backed over 200 companies.
Life in the late-1800s, by today’s standards, was dismal for the vast majority of the population.
The average life expectancy at birth was just 45 years.
Most homes had no bathrooms and no one had electricity just yet. There was no such thing as a radio, telephone, motion pictures or professional sports.
Robert Gordon estimates that 87% of all jobs in 1870 could be described as unpleasant based on work conditions.1
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Further Reading:
Misbehaving in a Volatile Market
1Email us at [email protected] if you have a question.
2Subtract inflation from the 1970s number and you get negative real returns.
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On today’s show, we discuss:
Why Trump Blinked on Tariffs Just Hours After They Went Into Effect
The Companies and Markets Hi...
At the worst point of this correction the S&P 500 closed down 18.9%.
That was before the giant 10% gain the next day.
I don’t know if that was the bottom or not but it’s possible we just had another near-bear market (for now):
I don’t know why we’ve had so many close calls over the years but there have been a number of near bears over the years that were a hair from being down 20%.
This got me...
Volatility is heightened right now.
We have volatility in markets, government policy, trade and supply chains, which translates into emotional volatility.
Let’s look at some of the ways this manifests through a host of behavioral biases that impact us all in some way:
Recency bias is when you give more weight or importance to recent events.
Stocks are up. The correction is over!
Stocks are down. This downturn will...
Some thoughts and questions on what’s been happening in the markets of late:
The market still has veto power. Seeing bond yields scream higher Tuesday night was the first time I got nervous about the possibility of a financial crisis:
The bond market is probably what spooked the White House into the 90-day pause on tariffs. The New York Times said as much:
The economic turmoil, particularly a rapid rise in governm...
