Four Causes for Monday’s Rally

Much of the time, it’s folly to say why the market goes up or down on a particular day. As Barry Ritholtz points out, journalists need to sell papers (or get clicks), and headline explanations of why the market is up or down is necessary to that end. Even if it’s...

What the 3D Printing Crash Says About Unguided Investing

In 2013, 3D printing was touted by many investors as a revolutionary market that was going to transform the world. Its proponents called it a bigger revolution than even the internet, where commerce would be conducted on a higher level of abstraction. People would buy...

Business Development Companies and the Indexes

While the S&P 500 (SPY) is up 1.5% YTD at the time of writing, bonds are doing much better. Long-term Treasuries (TLT) are doing the best with 10% growth, while corporate debt is flatter (JNK is up 1.6%) and municipal debt has more muted growth (MUNI is up 2.2%)....

Twitter and the Importance of Modeling

Imagine you had a small business that sold $100,000 worth of goods in January 2013. Then in January of this year, you sold $219,000 worth of goods. That would be just incredible, amazing growth—you’d feel like you hit the lottery, that you were headed for the big...