Recent Articles

When It’s Value vs. Growth, History’s on Value’s Side

Yearly Observations of Premiums: Value minus Growth: US Market January 1927—June 2021 Past performance is no guarantee of future results. Investing risks include loss of principal and fluctuating value. There is no guarantee an investment strategy will be successful. Indices are not available for direct investment. Their performance does not reflect the expenses associated with

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All-Time-High Anxiety

Investors are often conflicted about record-high stock prices. They are pleased to see their existing equity holdings gain in value but apprehensive that higher prices somehow foreshadow a dramatic downturn in the future. And they may be reluctant to make new purchases since the traditional “buy low, sell high” mantra suggests committing funds to stocks

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History Shows That Stock Gains Can Add Up After Big Declines

Darkest Hour Right Before the DawnSudden market downturns can be unsettling. But historically, US equity returns following sharp downturns have, on average, been positive. A broad market index tracking data since 1926 in the US shows that stocks have tended to deliver positive returns over one-year, three-year, and five-year periods following steep declines. Cumulative returns

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Embrace the Market by Not Trying to Outguess the Market

An Efficient MachineThe competitive landscape makes the search for future winners a formidable challenge. Confronted with so many fund choices—and lacking an investment philosophy to inform their search—some investors will resort to using track records as a guide to selecting funds, reasoning that a fund manager’s past outperformance is likely to continue in the future.

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