Not Disrupted….Yet
There's about $700 billion in tax inefficient asset allocation mutual funds that charge > 0.5%.
There's about $20 billion in asset allocation ETFs that...
Was It Earnings Growth, or Multiple Growth?
Has the US outperformance since the GFC come from relative growth or valuation expansion?
"Both contributed, but there was more coming from the richening."...
Cheers! (This is as good as it gets…)
https://www.bloomberg.com/news/videos/2025-11-03/-this-is-as-good-as-it-gets-meb-faber-video
1,000 Millionaires
Did you know the US added 1,000 millionaires every day last year?
Lots of other mind blowing facts from the Idea Farm's top 50 facts...
New Trend Following Documentary!
Let us know what you think!
https://www.youtube.com/watch?v=EPwceHyy9o4&t=1s
The Easiest Way to Beat the Market
Since 1972, would you like to know a magical way to beat the S&P 500 by 0.27% per annum?
Simple, just remove the largest stock.
Global Stock Market Valuations
Via The Idea Farm
Historical valuations for
US stocks
Foreign stocks
Cheapest 25% of countries
The World Market Portfolio
One of my favorite papers of the year from podcast alum Peter Oppenheimer at Goldman Sachs:
The research piece focuses on the Global Market...
I Got Hired By CalPERS!
Me presenting to the CalPERS board at the next yearly review
(volume up)
