Category: Essence of Portfolio Management
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Ed Seykota on Position Sizing
Ed Seykota was asked: “If you could give me ten rules to consider with respect to position sizing what would they be?” He replied: 1. Bet high enough to make meaningful profits when you win.… Read More
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The weight of evidence is becoming increasingly bearish for the US stock market
“The trend is your friend, until the end when it bends.” Stock indexes making higher highs and higher lows is a good thing – until it isn’t. I run a combination of systems. Most of them… Read More
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In the final stages of a bull market
In the final stages of a bull market, we normally see a parabolic move to the upside, a final blowoff that gets in the last investors. Buying demand is the response of investor euphoria like… Read More
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Essence of Portfolio Management
“The essence of investment management is the management of risks, not the management of returns. Well-managed portfolios start with this precept.” – Benjamin Graham The problem is many portfolio managers believe they manage risk through their investment selection.… Read More