Tim’s Top Links – 8/14/19

I’m sure you’ll see, read, and hear A LOT about the yield curve inverting today.  The most important thing to remember with that news is to figure out what it means for YOU.

Whether it leads to a recession, or not, what kind of impact (if any) will this have on YOUR plan and YOUR future?  The rest is unimportant.

Here’s what I’ve been reading this morning:

‘What’s Really Going on in the Stock Market?’ – Ashby Daniels – Retirement Field Guide

  • On the 40th anniversary of the “Death of Equities” article, Ashby takes a look at the current stock market, what’s happened since, and what’s really going on today.

‘The DCF is the Randy Watson of Valuation’ – Drew Dickson – Albert Bridge Capital

  • Discounted cash flows are great, but they’re also riddled with human biases.  Drew spells out the flaws with the DCF.

‘Defining the Why of Investing Before the How or What’ – Jeremy Walter – Calibrating Capital

  • A lot of advisors dive right into what they’re going to buy, or how they plan to invest, but Jeremy writes about the importance of figuring out WHY first.

‘The Impact of Interest Rates & Inflation on Stock Market Valuations’ – Ben Carlson – A Wealth of Common Sense

  • Ben writes about why inflation and interest rates matter when looking at CAPE ratios and other metrics for measuring stock valuations.


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