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If a stock drops (-50%), it needs to grow +100% to breakeven. But…does this mean anything important to investors?

Are retiree’s who own bond funds setting themselves up for harm that a bond ladder could never inflict? Or is this six vs. half-dozen?

“The nature of human psychology is such that you’ll torture reality so that it fits your models.” Let’s not do that.

Some parts of the financial planning world are sheer cliffs. Take one step over that cliff and it’s a long way down.

We don’t need daily, weekly, monthly, or even annual market forecasts. When it comes to the stock market, you should care about decades.

Retirement is a balance between short-term low-risk pessimism and long-term high-risk optimism. Sufficient returns, sufficient safety.