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IS AVERAGE PERFORMANCE FATE?
IS AVERAGE PERFORMANCE FATE?
The Wall Street Journal today reports that Bill Miller has "destroyed" his former reputation "as the era's greatest mutual-fund manager." Miller's downfall is hardly surprising, given the severe bear market this year. Indeed, Miller (who runs Legg Mason Value Trust) has lots of company. ...
The Volatility Bubble -- Average Daily Change Now Above 4%!
The Volatility Bubble -- Average Daily Change Now Above 4%!
bespokeinvest.typepad.com — A couple of weeks ago, we did a post showing that the 50-day average daily change of... the S&P; 500 was higher than at any other point in the index's history. After yesterday's close, another record was eclipsed when the average daily change moved above ... (more) The Volatility Bubble -- Average Daily Change Now Above 4%!
Third Worst Bear Market On Record
Third Worst Bear Market On Record
bespokeinvest.typepad.com — The S&P; 500 finally had its first 20%+ rally in 408 days yesterday, which means we're currently... in a bull market by the standard definition (20% rally preceded by a 20% decline). Over at Bespoke Premium, we released a B.I.G. Tips report yesterday ... (more) Third Worst Bear Market On Record
Performance of the Rally by Market Cap
Performance of the Rally by Market Cap
bespokeinvest.typepad.com — By definition, the S&P; 500 is set to close in a brand new bull market today with... a rally of more than 20% off of the 11/20 lows. The average stock in the S&P; 500 is up even more at 27.32%. This is because the smallest stocks in the index have ... (more) Performance of the Rally by Market Cap
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Wednesday links: trade trends
Abnormal Returns — ... The definitive end of Bill Miller as a genius meme.  (WSJ.com also 1440 Wall Street, Clusterstock, Investor’s Consigliere, Capital Spectator) What are zero interest rates on T-bills telling us?  (WSJ.com, NYTimes.com) “Over the long haul, though, stocks should deliver an average return.”  (Clusterstock) Another model (Ford ...

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