Blog

Category: Behavioral Biases

“We have met the enemy and he is us.” – Walt Kelly We have entered a dangerous time in history.  A time when the truth changes every day. The amount of misinformation being spread daily is nothing short of remarkable.  It seems like everything is “fake news” now independent of who is reporting it.  Rather […]

“The world is wrong side up. It needs to be turned upside down in order to be right side up.” – Billy Sunday A lot has clearly happened post-election to investment markets, as significant rotations have pushed money into new themes. There has been a historic streak of positive returns in small-cap stocks, bonds have sold […]

We’ve seen a lot in the last two weeks: Manias, Panics, and All-Time Highs. Manias Dry Ships Inc. (a shipping company) went from $4 to $102 in 4 trading day following the election, an astounding gain of over 2,000%. There were a wide variety of reasons attributed to the advance (Trump is bullish for growth/shipping, […]

*Beta Rotation Index, +9.65% Year to Date thru 9/2/2016, remains in offense mode (click here for why this matters) *Pension Partners Tactical Exposure Model +16.48% Year to Date thru 9/2/2016 “If people never did silly things nothing intelligent would ever get done.” – Ludwig Wittgenstein I knew when writing last week’s “Dear Fed, Please STFU” […]

“The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.” – Marcel Proust There is a behavioral tendency for human beings to oversimply.  “How is the market doing?”  “Well the Dow is up 100 points! The S&P 500 is up a percent!”  “It’s a bull market!” Oversimplified.  The “market” […]