Part one of this two-part series explored why the future expected returns of the 60/40 portfolio are unlikely to match the last ten years. In a nutshell, negative real bond yields plus richly valued US equity markets imply weak capital growth ahead. Past experience shows expected returns predictions are more reliable than some chancer with […]

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What caught my eye this week. Josh Brown is concerned. The financial advisor and TV pundit behind The Reformed Broker blog sees a new kind of fear and greed out there: The type of fear that now drives most market activity (because it drives most market participants) is something different than the fear we’ve been […]

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