Why you can not afford to be a bull or a bear

There are two types of people. Some people constantly change their theories and beliefs to make them fit reality better, while others try to change reality to make it fit their rather fixed theories and beliefs. In his book The Signal and the Noise: Why So Many Predictions Fail but Some Don’t, Nate Silver describes… Continue reading Why you can not afford to be a bull or a bear

Adverse move ratio

The US stock market has been climbing steadily without any serious pullback for more than a year. Some analysts consider this a dangerous sign of complacency, others blame the central bank’s QE policies for this “abnormal” market. Almost all seem to agree that this can only end with a crash. But how unusual is this… Continue reading Adverse move ratio