Most Recent Stingy News
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| Jonathan Clements' financial plan |
| 09/15/24 3:16 PM EST | Retirement |
| "Personal finance master Jonathan Clements is turning his recent terminal cancer diagnosis into an important teaching opportunity on money and life." [video] |
| More Retirement: Laying down a floor |
| A guide to semi-retirement |
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| The Great Rotation |
| 09/15/24 3:02 PM EST | Markets |
| "investors may be well served by balanced allocations that are based on net income generation, with around 55% weight in the US and 45% internationally." |
| More Markets: Diversifying equity portfolios |
| Cumulative vs. cyclical knowledge |
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| Paid to not understand it |
| 09/15/24 2:09 PM EST | Crime |
| "I used to wonder why these platforms care so little. Don't they want a better user experience? Don't they want people not to get scammed? Don't they care about their platform's reputation? Then it finally clicked. They don't care because caring won't generate profits right now." |
| More Crime: Avoiding bad guys |
| Financial cancellation |
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| Laying down a floor |
| 09/15/24 2:06 PM EST | Retirement |
| "What if we could create an inflation-indexed guaranteed pension from half of our savings - one that wouldn't involve any annual investment expenses, aside from paying taxes on the amount we take out every year?" |
| More Retirement: A guide to semi-retirement |
| Turning on a dime |
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| Diversifying equity portfolios |
| 09/15/24 2:04 PM EST | Markets |
| "International equities clearly provide the most diversification benefits of any of the major style exposures. US small caps are next. US large-cap growth, large-cap value, and mid cap provide the least diversification." |
| More Markets: Cumulative vs. cyclical knowledge |
| Michael Mauboussin on concentration |
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| The less-efficient market hypothesis |
| 09/08/24 9:07 PM EST | Asness |
| "I argue that over the past 30+ years markets have become less informationally efficient in the relative pricing of common stocks, particularly over medium horizons. I offer three hypotheses for why this has occurred, arguing that technologies such as social media are likely the biggest culprit. Looking ahead, investors willing to take the other side of these inefficiencies should rationally be rewarded with higher expected returns, but also greater risks." |
| More Asness: The president's trophy curse |
| Cliff Asness interview |
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| Cumulative vs. cyclical knowledge |
| 09/01/24 2:05 PM EST | Markets |
| "Reading old finance articles makes you feel like the ancient past was no different than today - the opposite feeling you get reading old medical commentary." |
| More Markets: Michael Mauboussin on concentration |
| Overvalued or new paradigm |
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| Pizza Pizza |
| 09/01/24 1:42 PM EST | Value Investing |
| "While we appreciate the desire to reduce exposure to overvalued large cap stocks, we do not believe blindly rotating into less liquid, and often financially constrained, small cap stocks is the answer. In fact, with valuations still expensive, debt maturities approaching, and buyback bids disappearing, we believe investors currently piling into small cap stocks will ultimately be disappointed." |
| More Value Investing: The superior returns of cyclical stocks |
| Mean reversion, or extreme aversion? |
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| Unwanted attention |
| 09/01/24 1:34 PM EST | Indexing |
| "There's a federal regulation that no investor can buy more than 10% of the shares of a U.S. bank without regulatory approval if it's seeking to “control” the bank. Thanks to the popularity of its index funds, Vanguard funds collectively owned 12.5% of State Street's shares as of June 30. They also owned 9.9% of Bank of New York Mellon and 9.4% of JP Morgan Chase." |
| More Indexing: Buying tiny ETFs |
| Fear of heights |
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| Debt and taxes |
| 09/01/24 1:27 PM EST | Taxes |
| "the argument to avoid a higher marginal rate today to pay an expected lower effective rate tomorrow is sound if tax rates don't go up much in the future. But that's a huge 'if' that doesn't seem promising given the U.S. government's current fiscal situation." |
| More Taxes: Whose tax is it anyway? |
| The myth of the mobile millionaire |
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| Are we now too impatient to be intelligent? |
| 08/28/24 1:44 PM EST | Behaviour |
| "Rory explains how we weight information that appears quickly over knowledge that really matters." [video] |
| More Behaviour: A cautionary tale of forecasting |
| Stop paying attention |
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| A cautionary tale of forecasting |
| 08/25/24 2:05 PM EST | Behaviour |
| "Fisher lost everything and never recovered. The belief that he could predict the future, combined with massive margin debt, was his downfall." |
| More Behaviour: Stop paying attention |
| Forecasts |
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| Avoiding bad guys |
| 08/25/24 1:59 PM EST | Crime |
| "When we think about financial malfeasance, names that typically come to mind are Ponzi and Madoff. But unfortunately, they aren't the only ones." |
| More Crime: Financial cancellation |
| Almost had me |
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| Stop paying attention |
| 08/25/24 1:53 PM EST | Behaviour |
| "For the majority of investors - those who invest over the long-term for profits, dividends and coupons - there is no need to have six screens providing a plethora of real time financial market information, knowing what equity markets did yesterday is an irrelevance and it is okay to ignore the latest hot topic." |
| More Behaviour: Forecasts |
| A few little ideas |
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| Michael Mauboussin on concentration |
| 08/25/24 1:41 PM EST | Markets |
| "So the Rob A. thing was exactly right, which was it was if for 65 years, at least, it was really bad to own the number one stock." [video] |
| More Markets: Overvalued or new paradigm |
| Worth the weight |
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| A guide to semi-retirement |
| 08/24/24 6:28 PM EST | Retirement |
| "Do you like the idea of early retirement, but you don't want to have to save every penny? Do you seek financial independence, but you don't want to permanently leave the workforce? Then Coast FIRE might just be right for you." |
| More Retirement: Turning on a dime |
| Unasked questions |
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| Forecasts |
| 08/24/24 6:26 PM EST | Behaviour |
| "Every forecast takes a number from today and multiplies it by a story about tomorrow." |
| More Behaviour: A few little ideas |
| Marshmallow test is not predictive |
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| The Stingy News Weekly: August 11, 2024 |
| 08/11/24 12:54 PM EST | SNW |
| This week we have plans, housing, bubbles, and more |
| More SNW: The Stingy News Weekly: August 4, 2024 |
| The Stingy News Weekly: July 27, 2024 |
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| Overvalued or new paradigm |
| 08/11/24 12:30 PM EST | Markets |
| "The takeaway is that the historical record suggests that thinking 'this time is different' is dangerous to your financial health." |
| More Markets: Worth the weight |
| Some crazy charts |
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| A few little ideas |
| 08/10/24 5:51 PM EST | Behaviour |
| "It's almost impossible to charge for something once you've given it away for free, so choose your business model carefully. And people are extremely sensitive to even reasonable price changes, which is why inflation is always an emotional issue." |
| More Behaviour: Marshmallow test is not predictive |
| Don't take the last dollar |
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| Turning on a dime |
| 08/10/24 5:49 PM EST | Retirement |
| "We make forever plans - and often end up shredding them in a few short days." |
| More Retirement: Unasked questions |
| No slowing down |
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