Halfway up the slope of a volcano lived a monkey. Like his fellow monkeys, he spent the majority of his days picking and eating fruit off the trees growing on the side of the volcano. Unbeknownst to his friends, however, … Continue reading →

Although the rationale for this is sound, waiting to invest can be tricky because it’s always difficult knowing when the time is right to start putting money to work. Usually the best time to get invested is when the world … Continue reading →

Being disciplined is hard. When we think about our own private lives, if we’re being honest, none of us have any trouble coming up with instances where we broke down and diverged from our plan. Whether around dieting, exercise, or … Continue reading →

Anything’s possible, but it’s extremely unlikely that the rules of the game have changed. At the end of the day, asset prices only go as high as people are willing to pay for them. The definition of a bubble is … Continue reading →

We’ve incorporated our fair share of complicated charts and concepts into our letters over the months. This one, in our opinion, really keeps things simple. If we’re trying to figure out if the stock market is expensive, doesn’t it really … Continue reading →