Low Returns Are Fundamentally Unstable

10 Year Treasury Rate - 54 Year Historical Chart In my previous post, I discussed how investors seeking relative value tend to drive prices up and returns down over time. When returns are low, small changes in expected returns (or small differences in returns between investments) result in large price changes. Everything I know about …

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Podcast Notes: June 2017

Rory Sutherland on The Psychology of Advertising, Complex Evolved Systems, Reading, Decision Making - May 20, 2017 (10:15) "By getting us to shift our focus to what's good about something rather than what we assume to be bad about it, you can synthesize happiness out of nowhere." -Rory Sutherland (12:50) "The biggest source of economic …

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