While domestic markets reached all-time highs in 2013, emerging markets stumbled and declined just over 2% for the year in comparison to the 27% returns in international developed markets. On an absolute basis this doesn’t seem so bad but, looking back at history, the last time a performance differential between emerging and developed markets this … Continued
The media is overly focused on propagating a falsehood, specifically, that bonds are now riskier than stocks. This is sensational financial journalism at best and, at its worst, potentially retirement damaging advice. It is a universally accepted truth that the 30-year plus tail wind to bond performance, caused by falling interest rates, is now behind … Continued
“His mind now misgave him; he began to doubt whether both he and the world around him were not bewitched. Surely this was his native village which he had left but the day before. There stood the Kaatskill mountains–there ran the silver Hudson at a distance–there was every hill and dale precisely as it had … Continued