Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled… Read More ›
TSP Risks
Market Stress or Market Risk
I talk about market risk quite a bit and try to emphasize market risk is not static. This idea is not supported by mainstream thinking or financial marketing. “Financial Advisors” ask you how much risk you are willing to accept… Read More ›
TSP Perspective: Expected Future Returns and Risks
I would like for you (and the friends I hope you share this with) to spend some time resetting your frame of reference for investing in the markets. Many of you have a good feel for the market and can sense the… Read More ›