Morgan Housel

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The New York Stock Exchange. Of the 15 bear markets since 1950, the initial major low was retested on all but one occasion. Photograph: Johannes Eisele/AFP via Getty Images

The recent stock market rebound has been almost as sharp and rapid as the sudden plunge that preceded it. Although markets “went from 1929 to 1999 in (...)

Were bears ‘right’ when warning of imminent collapse every year of the last decade? Photograph: Getty Images

I wasn’t wrong – I was early. That’s the message emanating from many market bears in recent weeks. Mocked over the last decade for sitting out the lo(...)

Managers will be in a hot state when volatility erupts. Fear causes them to hedge reactively and to overtrade, not appreciating just how much their hot emotional state is impacting their decisions.  Photograph: Getty Images

Imagine the following scenario. Stocks are plunging around the world and your portfolio has been badly bloodied, losing 30 per cent of its value. Will(...)

Sometimes it pays not to stick your finger in the air and be greedy when others are fearful. File photograph: Reuters

A year ago, investors were fleeing stocks as indices endured their most dramatic declines since the end of the global financial crisis. But 2019 has t(...)

It is tricky  for investors to overcome their thinking biases. Photograph: Michael Nagle/Bloomberg

If you were considering investing in an active fund and you had the chance to ask the fund manager some questions, you might ask: How risky is this fu(...)

Stock markets have always been volatile, but the suddenness of the recent correction   took many by surprise. Photograph: Getty Images

The recent stock market volatility has unsettled investors. Should they be worried by the recent spike in volatility? Is it better to ignore the marke(...)

Bill Miller. Had he retired in 2006, everyone “would have thought I was a genius”, he said last year. “By 2009, I was like an idiot.” Photograph: Heidi Gutman/Getty Images

One of the most important determinants of investment success is also one of the most underappreciated – luck. The investors who enjoy the cosiest ret(...)

Are you “susceptible”, “infected” or “immune” to Bitcoin? Photograph: Chris Ratcliffe/Bloomberg

Buy Russia. That’s according to GMO, the value investing firm headed by iconic investor Jeremy Grantham. Russian stocks were slaughtered last week, pl(...)

Donald Trump: The 1,000-point thresholds “continue to drop like flies these days”, noted Bespoke Investment Group. This was the fifth such crossing since Trump’s election win last November. Photograph:  Saul Loeb/AFP/Getty Images

Last week marked the 30th anniversary of Black Monday, when stocks suffered their biggest one-day plunge in history. There were the usual warnings reg(...)

Rain storm outside the New York Stock Exchange: declines are part of investing in stocks. Photograph: Michael Nagle/Bloomberg

It’s easy to feel a bit foolish during a bear market, especially when the “I told you so” brigade point out how you could have protected your portfoli(...)

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