As I grow older, I pay less attention to what men say. I just watch what they do.
September 12, 2012
It was 33 years ago this month when I got off the subway and stared at a newsstand copy of Business Week. The cover read “The Death of Equities.” It was 1979, five years removed from the 1973-1974 bear market. I was totally flummoxed by the story. The story was incomprehensible to me.
True the Dow Jones Average had been going...
July 26, 2012
My father stood staring out the living room window of our apartment building. It was a building that was derisively referred to as “The Project” by its inhabitants. Other people knew it as Public Housing. It was government housing for low income people. Many, like my father, were returning World War II veterans. And these Vets,...
June 25, 2012
I knew the highboy would be expensive. But when you’re 22 and starting out in the investment business, well, you’re very confident. Have to be. Besides I had saved $10,000 for my upcoming wedding. That was an unimaginable sum of money for a 22-year-old in 1967. What I had no way of knowing was that, in the stock market, the emotional...
May 30, 2012
“In seeking to avoid the dangers of crowd action, remember that a majority opinion can be sustained. Unanimity of opinion is more vulnerable to a contrary surprise.”
The quote above is from Contravisory founder Ed Noonan’s 10 Rules for Investing. Considering the record amount of anticipation and speculation...
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