Is It Really “Different This Time?” “Value investors have bored momentum investors for decades by trotting out the axiom that the four most dangerous words are, “This time is different.” For 2017 I would like, however, to add to this warning: ‘Conversely, it can be very dangerous indeed to assume that things are never different.'”...Read More
From “Reinvesting When Terrified” to Investing Purgatory Investing expert Jeremy Grantham’s market calls have a funny way of being vindicated. In the 1990’s, he was early to sound the alarm about frothy tech and internet stocks. Too early. As a result, Grantham’s money management firm, GMO, hemorrhaged billions in investor withdrawals. What happened next? All the...Read More
Where Are Interest Rates Headed in 2014? There’s no mileage in being contrarian just for the sake of being contrarian. But, it’s uncanny — at least to me — how often conventional wisdom has a way being foiled. In that regard . . . there certainly seems to be a broad consensus at the moment...Read More
