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Never Too Late
You know the end of working for a paycheck is coming but when you are in your 20s, that end seems so far that it might not as well come. Plus, life has a way of getting…
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Technical Analysis Is For Suckers
I get to listen to the radio sometimes and I still find (unfortunately) a plethora of shows where people call in to ask whether a given stock is a buy, sell, or a hold. So,…
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Women Make Better Investors
I wish we would see a day when a majority women are at the helm of our businesses and the markets. I wish child-rearing, toddler-totting mothers someday rule Wall Street and investment houses across the…
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Most Mistakes Happen In The Tails
The stock and the bond markets are the most efficient places to invest your savings. Owning stocks means owning pieces of businesses while owning bonds means becoming a lender to the same businesses and sometimes…
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Price vs. Value
Ralph Wagner, the legendary manager of the Acorn Fund, once likened the stock market to an excitable dog on a long leash in New York City, darting randomly in every direction. The dog’s owner is…
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A Bias Towards Inaction
A business makes capital allocation decisions such as expanding a factory or investing in new tech with the intent of recouping that investment over a timeframe that spans years and decades. Not all capital allocation…
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Sometimes, The Year You Retire Can Make A World Of Difference
Let me introduce you to Jason. He retires in 1969 with today’s equivalent of a million dollars. That is, he retires with an amount of money that has the same purchasing power as what million dollars…
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Positive-Sum Games
Say you decide to play blackjack with a friend, and you play to a point where one of you wins everything from the other. And say the game starts with $100 from you and another…
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Plan Like A Cockroach
Cockroaches are the ultimate survivors1. They can live without air for an hour, without food and water for months. They can survive the Arctic cold. Ice ages and continent shifts mean nothing to them. It…
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Sidestepping Bubble Stocks
Buying businesses (stocks) is not about winning popularity contests. In fact, the more popular a stock or a category of stocks gets, the less likely its price matches its value. Pay too rich a price…