Tag Archives: Stocks

Introduction The Efficient Market Hypothesis (EMH) is a foundational concept in finance and is widely taught in academia. At its core, EMH holds that security prices rapidly incorporate all publicly available information, making it extremely difficult for investors to consistently achieve above-average returns. I believe this framework is largely correct but often taken too far.Continue reading “Roughly Efficient Markets”

International stocks are widely considered a part of a well-diversified portfolio. An international stock index fund can be found in just about any target date retirement fund. There are strong arguments for both the inclusion and exclusion of international stocks in an American investor’s portfolio. I will explore both. Exclusion From 1970-2024, the annualized returnContinue reading “International Stocks”

Introduction Investors seeking broad exposure to the U.S. stock market typically choose between two options: the S&P 500 index or a total market index. Over the long run, the difference between them is unimportant. Yet many investors still find themselves overanalyzing the choice. This article breaks down the key differences, saves you some research time,Continue reading “Total Stock Market vs. S&P 500”