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Behavioral Finance

Investing Links of Interest – April 1, 2013
USA Today’s Mike Krantz reports the stock market is shrinking as firms are delisted,...
- Posted April 1, 2013
- 0
Michael Mauboussin on the Role of Luck and Skill in Investing
Adjunct Professor of Finance, Columbia Business School, and former chief investment strategist at Legg...
- Posted March 10, 2013
- 0
Larry Swedroe Pities the Poor Souls Who Invest in Hedge Funds
Larry Swedroe, financial author and and director of research for the BAM Alliance, has...
- Posted January 19, 2013
- 1
Study Lambasts Professional Investment Advice
A study of investor results conducted by John Chalmers from the University of Oregon...
- Posted September 18, 2012
- 0
Robert Shiller Comments on the Spanish Housing Market
Robert Shiller, Yale University professor of economics and co-founder of the Case-Shiller index, was on...
- Posted April 30, 2012
- 1
DALBAR Study Reveals Mutual Fund Investors Lost in 2011
Mutual fund investors suffered losses last year according to the annual Quantitative Analysis of...
- Posted March 26, 2012
- 1
Larry Swedroe Bemoans Investor’s “Magical Thinking”
Larry Swedroe, author of Investment Mistakes Even Smart Investors Make and How to Avoid...
- Posted March 1, 2012
- 0

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Jonathan Clements and Jason Zweig Discuss Investor’s Challenges
Consuelo Mack interviewed financial journalists Jonathan Clements and Jason Zweig...
- April 13, 2014
- 0
Brett Arends: How Investors Lose 2/3rds of Their Profits
In a recent article at MarketWatch, financial writer Brett Arends...
- August 14, 2013
- 1
Is the Retirement Crisis Really a Crisis?
PBS Frontline recently presented a documentary called “The Retirement Gamble”...
- April 25, 2013
- 12
Investing Links of Interest – April 1, 2013
USA Today’s Mike Krantz reports the stock market is shrinking...
- April 1, 2013
- 0
Michael Mauboussin on the Role of Luck and Skill in Investing
Adjunct Professor of Finance, Columbia Business School, and former chief...
- March 10, 2013
- 0

Jeremy Siegel: Market Similar to January 2018
On CNBC yesterday Jeremy Siegel expressed concern that the...
- January 10, 2020
- 0
Macerich and Taubman Centers Added to the SMA Portfolio
Retail mall REITS Macerich (MAC) and Taubman Centers (TCO)...
- January 2, 2020
- 0
Delphi Technologies Removed from the SMA Portfolio
London based auto equipment manufacturer Delphi Technologies (DLPH) was...
- December 6, 2019
- 0

Is the Retirement Crisis Really a Crisis?
PBS Frontline recently presented a documentary called “The Retirement...
- April 25, 2013
- 12
Alarming Chart of the Stock Markets of 1987 and 2012-2013
Several days ago I posted a chart showing the...
- May 22, 2013
- 8
Gary Shilling’s Favorite Investment: 30 Year Treasuries
Larry Kudlow interviewed Gary Shilling last week. Shilling continues...
- June 23, 2011
- 7

Based on a scale of 1 (major complacency) to 10 (extreme fear): Current and Selected Past Readings:

Date	Index	SMA Comment
12/26/2019	2.3	Lowest level of fear in nearly two years (January 2018)
12/21/2018	6.7	Raised fears likely setting up a buying opportunity
1/11/2018	1.8	Unusually low fear could mean we're near the top in valuations
1/13/16	6.3	Terrible start to 2016 raised fears
10/3/11	8.5	A good tradable bottom (S&P 500 @ 1,085) based on lots of nonsense
3/9/09	7.0	Market bottom (S&P 500 @ 666); end of the world was nigh
10/27/08	8.8	Market had dropped 28% in 5 weeks, Paulson pulled out all stops to save Wall Street bankers
10/12/07	3.2	Market top (S&P 500 @ 1,562); worldwide housing bubble pricked