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...
Sep 22, 2009 | Behavioral Finance, Efficent-Market Hypothesis, Valuation
The May/June edition of the CFA Institute’s Financial Analysts Journal features the article, “Should Good Stocks Have High Prices or High Returns?” Not withstanding the ambiguity of the term “good,” the logical answer to the question is...