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Archive of entries posted on December 2015

Pigs get slaughtered

When in doubt, don’t chase yield. Stay out. That’s what I originally wrote this morning. Then I thought, it should be “Don’t chase yield.” But at the time we don’t know we’re chasing yield. The investment seemed OK, in line with prevailing wisdom. But “prevailing wisdom” changes. Today we have “volatility.” Which means “prevailing wisdom” […]