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Bitcoin is not an investment — I’m glad I sold it

    By JONATHAN HOLLOW   Fidelity, the US investment powerhouse, has announced that people saving for their retirement in 401(k) accounts will be able to buy and save in Bitcoin. The custody fee will be high: at least 75 basis points, or 0.75%. Part of me thinks that if people are going to...

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Active share as a predictor of future performance

    By LARRY SWEDROE   Active share is a measure of how much a fund’s holdings deviate from its benchmark index, and funds with the highest active share tend to have the best relative performance (in order to outperform, you must deviate...

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Your chief problem and worst enemy as an investor

    By ROBIN POWELL   One of my favourite investment authors is Benjamin Graham. Widely credited as the father of value investing, Graham was Warren Buffett’s mentor and wrote the classic book, The Intelligent Investor. One of the central themes of that...

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Is outperformance down to luck or skill?

  By ANU GANTI   Similar to active managers, who attempt to identify stocks with above-average performance, investors who use active funds aim to identify managers who will outperform their peers. Our SPIVA® Scorecards consistently show that most active managers underperform most of the time. But...

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When stocks and bonds fall together

    By LARRY SWEDROE   This year’s significant declines in both stocks and bonds dealt a large blow to traditional 60/40 portfolios that relied on the hedging properties of bonds to protect against sharp drops in equity prices. As of the close...

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Trading stocks is like playing a Wimbledon champion

      “Know your circle of competence, and stick within it.” Warren Buffett   One of the most insidious aspects of sites like eToro and Robinhood is the impression they give that making money through trading stocks is easy. Of course, placing...

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Bogle’s legacy — folksy grandpa or investing punk rocker?

    When punk rock arrived in New York and London in the mid-1970s, the prime movers talked of stripping away the bloated excesses of the stadium bands that had come before and reducing rock music to its essentials. As a new book...

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