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Persistence > performance
Earlier in the year, I showed the chart of analyst forecasts and how they struggle to get even the direction of equity returns (positive or negative…
4 hrs ago
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Joachim Klement
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Persistence > performance
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Home bias everywhere
We all know about home bias in investing, the tendency of investors to prefer domestic over foreign investments. But this familiarity bias isn’t just…
Mar 18
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Joachim Klement
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Home bias everywhere
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A waste of time and money
I am no fan of influencers. The last time I wrote about them I got some stick for calling them talent-free people with fewer brain cells than the money…
Mar 15
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Joachim Klement
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A waste of time and money
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Why quality stocks perform so well
In the smart beta world, companies with high profitability are often called ‘quality stocks’ as opposed to ‘junk stocks’ that are loss-making or have…
Mar 14
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Joachim Klement
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Why quality stocks perform so well
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Japan is the playbook, not the exception
Last year, one part of my series against Cassandras focused on the fear of excessive government debt in the US and other countries. I explained why…
Mar 13
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Joachim Klement
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Japan is the playbook, not the exception
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This is not what I normally do here…
In my first post every year, I stress that I focus on empirical observations and data rather than theoretical predictions. Yet, today, I will do exactly…
Mar 12
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Joachim Klement
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This is not what I normally do here…
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Increasing collective intelligence
Last Monday, I wrote about the research on collective intelligence which shows that team performance is not driven by the intelligence of the team…
Mar 11
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Joachim Klement
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Increasing collective intelligence
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Hay fever, the deadly allergy
Here in the UK, it seems we barely left the cold and dark days of winter behind, but we are only a couple weeks away from the start of hay fever season…
Mar 8
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Joachim Klement
10
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Hay fever, the deadly allergy
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You hit my soft spot…
Ok, so I am on vacation right now and should know better than to write posts for my substack. But I have time to catch up with other people’s writing…
Mar 7
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Joachim Klement
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You hit my soft spot…
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Retail investors and earnings surprises
On average, retail investors aren’t the smart money in the market. They tend to trade on noise and in some cases, they may trade against fundamental…
Mar 7
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Joachim Klement
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Retail investors and earnings surprises
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The very real effects of consumers’ hopes
Investors and economists know that consumer sentiment surveys are a leading indicator for future consumption. However, the headline figure is a mix of…
Mar 6
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Joachim Klement
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The very real effects of consumers’ hopes
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Housing affordability around the globe and what really helps
Whinging is a national sport here in the UK, but if there is one area where I think all the complaining is justified it is about house prices in London…
Mar 5
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Joachim Klement
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Housing affordability around the globe and what really helps
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