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Bull versus bear is dead – macrobusiness.com.au
As the S&P500 rocketed into the close this morning on yet another European bailout rumour, it occurred to me just how broken the equity market is right now. We are trapped in bear market dynamics...
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ASX 200 rally — but it’s still a bear market
Australia’s ASX 200 index rallied strongly Thursday and is headed for a test of the upper trend channel. 63-day Momentum declining below zero reminds that we are in a strong primary down-trend. Respect...
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Stocks’ Volatility Is Worrisome Sign – WSJ.com
Many investors are entering this week with fresh hopes the worst is over, after last week’s sudden stock-market rebound. But history suggests that in times of market turmoil, there is a risk that big,...
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The Black Swan of Cairo: How suppressing volatility makes the world less...
Complex systems that have artificially suppressed volatility tend to become extremely fragile, while at the same time exhibiting no visible risks. In fact, they tend to be too calm and exhibit minimal...
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Philip Maymin, Why Financial Regulation is Doomed to Fail | Library of...
Philip Maymin highlights a problem with volatility: …..securities with historically low volatility tended to have almost twice as much subsequent risk, while those with historically high volatility...
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A good week for the S&P 500 but not the ASX
Summary: Good week for US markets. China continues to threaten further down-side. The ASX 200, pulled in opposite directions, is range bound for the present. Momentum strategies require persistence....
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Understanding Momentum
Understanding Momentum Since its initial discovery by DeBondt & Thaler in 1985, the momentum effect has been documented and researched in many markets worldwide. Stocks which have outperformed in...
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Risk versus volatlity
Ben Carlson cites Howard Marks on the difference between volatility and risk: Volatility is the academic’s choice for defining and measuring risk. I think this is the case largely because volatility is...
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Good week for the S&P 500 but not the ASX
Summary: A good week for US markets. China continues to threaten further down-side. The ASX 200, pulled in opposite directions, is range bound for the present. Momentum strategies require persistence....
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Resist the urge to avoid discomfort
Momentum stocks have suffered a fair degree of turbulence since April, after a strong first quarter. Investors unfortunately have to endure periods like this, when the market appears hesitant or lacks...
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What a difference a week makes
Summary: S&P 500 advances toward 2000. China respects primary support. ASX 200 rallies. Understanding momentum. Market sentiment shifted significantly to the bull side after some solid employment...
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Concentrated Portfolios: Do they enhance performance?
I mentioned last week that concentrated portfolios tend to outperform widely diversified portfolios in the long-term. This 2013 article from Money Management offers support: Fund managers who invest in...
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