Feb 3, 2014 | Behavioral Finance, Economics, Efficent-Market Hypothesis, Macro Investing, Portfolio Management
(This article first appeared on Seeking Alpha on Jan 31, 2014.) For the past few months, cautious investors, perma-bears, or reasonable skeptics (depending on your point of view) have emphasized the rise of margin debt balances to historic highs as one more sign that...
Oct 1, 2010 | Diversification, Investment Process, Macro Investing, Portfolio Management, Valuation
A recent Wall Street Journal article highlights the macro-driven nature of today’s stock market. In it, long-time value investors lament the current environment where stocks appear to trade in unison based on unemployment data or European bank stress test results. ...