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Investment Insights

Insights to help you navigate the challenges and complexities of today’s investment world.

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Market Commentary

What a 73% Favorite Really Means

Prediction markets are pricing the midterms. The stock market has its own odds: it rose in 72 of the last…

October 24, 2026 Free

Outlook and Opportunities

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Investor Academy — Guided by Principles

We believe that investment success requires discipline, patience, and a commitment to investment principles that have stood the test of time. Investment trends come and go, but these core values comprise our principle-based approach:

Maintain a Long-Term Perspective, Focus on Quality and Diversity Because the Future Is Uncertain

Links:

  • Developing a Plan
  • Building a Portfolio
    • Asset Allocation
    • Asset Mix
    • Implementation
  • Investment Choices
    • Mutual Fund Investing
    • ETFs
    • Understanding Stocks
    • Understanding the Bond Market
    • Index Funds
    • International Investing
    • Real Assets — Gold and Real Estate
    • Alternatives
  • Essential Knowledge
    • Understanding Investment Performance
    • Dealing with Difficult Markets
    • Managing Risk
    • Learn from the Best
    • Tax Strategies
    • Politics & Policies
    • Debt & Deficits
    • Investment Principles for Life
    • Thoughts for Your Future
    • Some Final Thoughts
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Wall Street sign

Rules-Based Investing

Bridging the Gap Between Index Funds and Active Management
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AI: The Coming Disruption, Part 1

Artificial Intelligence: What We Know, What We Don’t, and What it Means for Investors
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AI: The Coming Disruption, Part 2

The Gains Are Real-But Who Actually Captures Them?
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AI: The Coming Disruption, Part 3

The 5-10 Year Outlook and the AGI Question
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AI: The Coming Disruption, Part 4

Lessons from the Last Big Disruption
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AI: The Coming Disruption, Part 5

A Plan of Action for Investors
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Outlook 2026

My Predictions for Next Year.

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The New Trump Accounts

Everything you need to know.

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Diversify Beyond the Magnificent 7

If You Can’t Predict, You Must Prepare

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Principle-Based Investing

Investment principles that have stood the test of time

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New York City, NY - November 22 2022: Front of New York Stock Exchange

The Case for Equities

Mutual funds and exchange-traded funds provide an efficient and accessible way for investors to own a diversified portfolio of common stocks.

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Forecasting Follies

The tariff war is a short-term distraction for investors with long-term goals.

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The Case for Global Diversification

International stocks provide investors with access to global markets, offering diversification beyond domestic equities.

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Hedge Funds

Hedge Funds promise to “hedge” against market downturns, and participate in market rallies.  But do they always deliver on their promise?

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Brown Bear

Don't Fear the Bear

Why stock market declines can be the long-term investor’s best friend.

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Outlook & Opportunities

Mid-Year Outlook

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Debt and Deficits: Perspectives for Investors

What Investors Need to Know about Debt and Deficits

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New Zealand Lambs

When Being Average is Actually Really, Really Bad

Making small changes can lead to a big improvement in returns

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Rear View Mirror

The Rear-View Mirror Approach to Investing

Popular sources for fund ratings can sink your portfolio

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Federal Reserve System headquarters

Can the President Really Fire Jerome Powell?

We take a closer look at the Fed’s independence

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Facts.Feelings

Facts vs Feelings

Where could the Dow Jones Industrial Average be in 30 Years?

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The Investor’s Advocate

It Cost Investors Hundreds of Billions.  Now a major protection just quietly went away.

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Understanding the Stock Market

Part of our Financial Foundations Series

reflections

Reflections

Beyond the Numbers

Lessons from the Last Bubble: Just Because Everyone Repeats Something Doesn’t Make it True.

Remember “Internet Demand is Doubling Every 100 Days”?

Is a Stock Market Correction?

When the stock market reaches a new high, investors naturally wonder if a correction is imminent.

Are you an Investor or a Gambler?

Don’t Risk Your Future with Speculative Investments

ZIM Mount Denali at Leatherman Terminal

Could Everything You Think About Tariffs and Inflation Be Wrong?

Why investors should resist the urge to panic

Is There Really an Affordability Crisis?

What the Numbers Say-And Who’s to Blame

Diverse Group

Next Article Coming Soon

New material is being added all the time

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What a 73% Favorite Really Means

October 24, 2026

Prediction markets are pricing the midterms. The stock market has its own odds: it rose in 72 of the last 98 years.

Read on Substack →

U.S. Debt Has Passed $40 Trillion. What It Means for Long-Term Investors

October 22, 2026

The federal debt is growing faster than the economy that supports it. Here is what it means for your portfolio.

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What Is a Neocloud, and Why Is Wall Street Suddenly Nervous About Them?

October 19, 2026

The AI boom's most leveraged companies carry heavy debt against fixed-price contracts. A lesson from the last bubble on why a technology can win while its stocks lose.

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Inside Our Model Portfolios: The Multifactor 60/40

October 19, 2026

How the portfolio is built, and how it held up in Q3 2026

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Profits Drive Prices: 98 Years of S&P 500 Earnings

October 15, 2026

Earnings are the magnet that has pulled stock prices higher over the long term.

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Forecasters Predict Because They're Asked

October 14, 2026

The most respected pollster in Iowa missed by 16 points. After 40 years in markets, I've stopped expecting forecasts to be right, and I build portfolios that don't need them…

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