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1. The Worst of Times: In hindsight, it was never going to end well when both stocks AND bonds were trading at crazy expensive levels. It is the worse case scenario for traditional passive buy and hold portfolios.…
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Global vs US PE10 Valuations: One of the most interesting aspects of the past decade has been the divergence in valuations between the USA and the rest of the world. A big part of the divergence in price/value has been driven by a massive divergence in relative earnings performance, with the US significantly and consistently outperforming the rest of the world in earnings…
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@AriCostello Neither my wife nor any of her MAGA friends have mentioned Trump's statement. She's excited about the… https://twitter.com/i/web/status/1599530789737488384
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