Rule of 240

Most investors are familiar with the Rule of 72, a formula for approximating the time it takes an investment to double at a given compounded annual return.  The Rule states that dividing 72 by the annual return equals the number of years to double.  Conversely, the...

Anchored Momentum

When I started developing a mutual fund selection and trading system in the mid-1980s, I wanted to own the funds that were going up and avoid the ones going down.  Therefore, I quickly gravitated toward price momentum as an indicator and selection tool.  One of the...

Bond Bubble Hasn’t Burst

Seems like everyone wants to label something a “bubble” these days.  There is a bubble in bubbles.  Interest rates have been falling for 32 years now.  As rates fall, bond prices rise, and vice versa.  It has been a multi-decade bull market for bonds.  Unlike stocks,...