Meb Faber Research – Stock Market and Investing Blog

This is a really interesting piece from the bubblemaster himself (330 and counting). Time to Wake Up:  Days of Abundant Resources and Falling Prices are Over Forever When is a BUBBLE no longer a BUBBLE, but a PARADIGM SHIFT?  ie when is THIS TIME REALLY DIFFERENT?

HT: SD Click to enlarge:

From Arnott,  The Biggest Urban Legend in Finance: "A 30-year stock market excess return of approximately zero is a huge disappointment to the legions of “stocks at any price” long-term investors.But it’s not the first extended drought. From 1803to 1857, U.S. equities struggled; the stock investor would have received a third of the ending wealth of the bond investor. Stocks...

Nice post here that traces the phrase "“Cut short your losses,” – Let your profits run on”:  

Some nice pieces on taxes as tax day approaches! There are some great articles in the Bloomberg Government Insider spring 2011 issue but I can't seem to find any links. From Barron's:  

Getting ready for a monster upcoming travel schedule, made even more pleasant due to a recently installed Achilles tendon where my ACL used to be. As always, drop me a line if you want to meetup! Chicago, IL Apr 27-29 Jacksonville, FL May 2 San Diego, CA May 3-4 Eastern Seaboard May 9-15 (DC, MD, GA, etc) NYC May 16-20

While most mutual funds underperform a simple index (and the vast majority underperform after tax), does that mean one cannot build a metric that predicts fund performance better than random? I was at the Morningstar ETF conference this past summer and learned a pretty amazing statistic: roughly all inflows into mutual funds go into 4/5 star rated funds or new...

I can't think of an area of investing individuals know less about than currencies.  (As an aside: We are currently writing a paper on currency investing strategies...) Today there is an article in the LA Times on currency trading (note: I didn't say investing).  FXCM and Gain are the two biggest brokers with a combined 260,000 accounts.  Roughly 75% of...

I enjoyed getting all the emails from people claiming their assets back from the state governments this week.  One of my favorites was the fellow who found $200 from a college internship over a decade ago! And as another emailer pointed out, the state of California owes money to Sergey Brin, John Doerr, Kobe Bryant, Paris Hilton, Chelsea Handler, Conan O'Brien, Mandy...

Update: Largest single claim so far : $10,000, total claimed:  $~$15,000-$20,000 As tax season rolls around, most people are busy trying to figure out how much they owe the government.  Most people don't know that their (state) goverments likely are holding on to some of their cash as well (running total around $30 billion).  Did you know there is a website...