Month: June 2017

From Silver Linings to Gray Skies

“I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements – that […]

Gold Miner Myths

“Gold Miners are a leveraged play on Gold” “Gold Miners are a good hedge against the S&P 500” There are few sectors in the market that generate as much attention, emotion, and misinformation as the Gold Miners. You’ll often hear some version of the two quotes above, stated as fact. Let’s evaluate the data to […]

As Good as It Gets?

If you had to describe the perfect market environment, what would it look like? The following attributes might come to mind: 1) High returns with low volatility and 2) low drawdowns, with 3) global participation, 4) both stocks and bonds rising, 5) the economy expanding, 6) earnings growing, and 7) an easy Central Bank. Sound […]

Statement 1: the average year has between 3 and 4 corrections greater than 5%. Statement 2: every year has between 3 and 4 corrections greater than 5%. Statement 1 is a true statistic regarding the S&P 500 going back to 1928. It can serve as a helpful reminder that there is no reward without risk […]