In a fair capital market, stocks can achieve a long term positive inflation adjusted returns regardless of economy power status. This is evident from the long term stock returns in UK. 

We review the recent trends of commodities and the performance of several managed futures funds. 

We discuss the so called ‘mistakes’ in investing and point out the difference between a real mistake and a temporary investment loss/underperformance. 

Our review on momentum based portfolios at several levels indicate the recent difficult for many such portfolios. However, longer term, such portfolios, especially the one based on multi-asset momentum, should have a place in an investor’s overall portfolio. 

We summarize our users’ surveys and feedback. 

We argue that unlike in stock investing, actively managed bond funds can outperform bond index funds more consistently and thus can be used as candidate funds for fixed income/bond asset class. 

Based on long term behavior of active stock funds, we believe the best way in stock investing is to invest in low cost index funds instead of active funds. 

We summarize recent newsletters. 

We review long term stock valuation metrics and their associated portfolios. We also discuss the scenarios in the current market environment if a bear market materializes. 

Many 401k plans are under class-action suits. We discuss various issues with a 401k plan. 

We discuss inflation protected securities (TIPS) and point out that they can be very effective in a portfolio. 

We point out that currently it’s an all out risk on mode. However, investors should keep a calm and objective view in the current frenzy. 

It’s a good idea to use ETFs for risk assets (stocks) and total return bond mutual funds for bond/fixed income asset. This newsletter analyzes this approach in more details. 

Self-drected investors are their own financial advisors. We review areas where a financial advisor can add most values and thus encourage investors to focus on improving on those areas. We further point out investor behavior is perhaps the most challenging area (thus most value added). 

We review tactical and world allocation funds and portfolios. Overall, market conditions have been more in favor of strategic US stocks/US bonds allocations. But we again argue that active allocation portfolios should have a place in one’s overall investments. 

We review strategic and lazy portfolios and voice concerns on a more and more speculative market. 

We review current asset trends and discuss what’s ahead for stocks and bonds. 

Tactical vs. Strategic: secular cycles over the last 24 years. 

Debt fueled economic growth is very unproductive and will stall at some point. 

Managed futures funds or portfolios can be an excellent portfolio diversifier.