“The 10,000-hours rule says that if you look at any kind of cognitively complex field, from playing chess to being a neurosurgeon, we see this incredibly consistent pattern that you cannot be good at that unless you practice for 10,000 hours, which is roughly 10 years, if you think about four hours a day.” – […]

  • Posted in Investing
  • Comments Off on 10,000 hours or 10 minutes: what does it take to be a “world-class” investor?

“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, […]

Just How Bullish is Small Cap Strength?

“The strength in Small Cap stocks is wildly bullish. Stocks do much better when Small Caps are outperforming.” – Pundit You’ve probably heard the above quote in various forms over the years. It’s a favorite among pundits and is never challenged. We’re hearing it again today, with the Russell 2000 up 10 days in a […]

  • Posted in Equities, Markets
  • Comments Off on Just How Bullish is Small Cap Strength?

The Metal That Failed Economics

Dr. Copper, Dr. Copper, Dr. Copper… Can we please stop with the “Dr. Copper” references? Not only does Copper not deserve a PhD in economics, by any unbiased measure it has failed Economics 101. Why? Repeat after me: because the direction of Copper by itself tells you nothing about the U.S. economy or the U.S. […]