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Hulbert: Are Stocks Undervalued?

http://www.marketwatch.com/story/are-stocks-undervalued-2011-09-06 Hulbert does a quick analysis comparing today’s stock market’s P/E – both trailing and projected forward – against historical norms. And he finds that based on that analysis, stocks may appear either undervalued or perhaps pretty fairly valued – but they certainly don’t look particularly expensive. While it’s hard to argue for any kind… Read more

September 7, 2011
WSJ: John Bogle – How the Index Fund Was Born

http://online.wsj.com/article/SB10001424053111904583204576544681577401622.html A nice op-ed note from Bogle about how the first index fund was started, and about his relationship with the late Paul Samuelson. Read more

September 3, 2011
Dan Ariely on “Asking the right and wrong questions”

Dan Ariely, author and professor of behavioral economics, wrote an interesting blog post yesterday Asking the right and wrong questions From a behavioral economics point of view, the field of financial advice is quite strange and not very useful. For the most part, professional financial services rely on clients answers to two questions: How much of… Read more

August 31, 2011
A pseudorandom walk down wall street

http://abstrusegoose.com/391 Thanks to Ritholtz and TBP for the link. (A cute comic making fun of market commentators) Read more

August 26, 2011
Swedroe on GNMAs for your Bond Allocation

Always worth reading, here’s Swedroe’s recent piece about whether or not to use GNMA (mortgage-backed securities) as your bond allocation: http://moneywatch.bnet.com/investing/blog/wise-investing/gnmas-you-can-do-better/2887/ Some things he notes: A 60/40 portfolio with intermediate treasuries has had a higher return and lower volatility than a similar portfolio with GNMAs GNMAs have a higher correlation with equities (which explains a… Read more

August 25, 2011
Felix Salmon responds to Swensen’s anti-mutual-fund piece

Felix Salmon, a widely published financial journalist, responds to Swensen’s article about how much of the mutual fund industry is ripping off investors. In particular, he takes issue with Swensen’s suggestion that the SEC should be somehow pushing folks to buy index funds. http://blogs.reuters.com/felix-salmon/2011/08/19/why-the-sec-shouldnt-push-index-funds/ Salmon grudgingly seems to agree that *within an asset class* it… Read more

August 19, 2011