If you’re like most investors, you’re asking the wrong questions. I was chatting with a group of advisors this week down in La Jolla and a question arose. I’ll paraphrase: “Meb, thanks for the talk.  We get a steady stream of salespeople and consultants in here hawking their various asset allocation models.  Frankly, it can [...]

I include this chart in most of my speeches on asset allocation as it shows just how wrong the crowd can be at EXTREMES.  People were most bullish in literally the worst month ever, and most bearish at the exact BOTTOM. Why they are all so bearish now I have no idea.  It is in [...]

If you enter the phrase “dividend investing” in Google, how many entries do you expect you’ll get? I got 57 million in 0.60 seconds. A search for “dividends” on Amazon returns a whopping 8,000 books, with exciting titles such as “Get Rich with Dividends” and “How to Supercharge Your Investment Returns with Dividend Stocks.” And [...]

Lots of commentary lately on the CAPE ratio (here are recent articles by Arnott, Swedroe, GMO, and Miller). I’ve written a book, a white paper, and countless blogs on the topic of the CAPE ratio so I don’t feel the need to rehash a lot of that here as there is plenty in the blog archives. [...]

If history is any guide, we’re standing at the edge of 40%–96% returns over the next two years. This isn’t wishful thinking or wild speculation. I’m not selling anything. Rather, I’m just reporting historical gains from a market set-up that’s repeating itself right now. So what’s going on? Well, imagine a rubber band. If you [...]

The 5 Mistakes Every Investor Makes is a recent book I read by Peter Mallouk, the #1 Investment Advisor in America.  (I’m not poking fun, that’s just what it says on the cover.)  In general it is an easy-to-read book that offers quite reasonable advice, and you can get a free copy from their website. The five mistakes [...]

I’ve given a speech on global stock market valuations about 20 times over the past few years.  Usually, if the crowd is small enough, I’ll pass around a piece of paper and ask people one question: “How much of your global stock portfolio is in US stocks?” The answer always varies a few percentage points, [...]