The only time gold did
worse than the stock market was in the early 1980s.
The graph below actually illustrates how PGX (orange) underperformed bonds (green) during the past 6 years and even did
worse than the stock market (purple) during 2008 - 2009 financial crisis.
Not exact matches
And that, importantly, would make it a
worse investment on average
than the
stock market because PE is illiquid.
Every major gaming joint in the Nevada city reported
worse results in the third quarter of this year
than in Q3 2008, when the
stock market crashed.
The S&P energy sector was down more
than 11 percent in the month of February as the
stock market sold off, its
worst monthly performance since 2011.
Home values over the long run tend to rise just slightly faster
than inflation, making it a
worse investment
than, say, investing in the
stock market.
The 1970s were a dismal decade for
stocks, yet GE did even
worse than the
market, amplifying cries to bust up this company.
Downturns in the
stock market tend to be
worse than downturns in the bond
market.
While investors seem to believe that
stocks are cheap here, the
worst historical crashes didn't even get going until the
market was already down more
than 14 %.
None of these historical drawdowns come close to matching the
worst historical bear
markets in
stocks, but they're probably larger
than most bond investors would care to sit through.
[01:10] Introduction [02:45] James welcomes Tony to the podcast [03:35] Tony's leap year birthday [04:15] Unshakeable delivers the specific facts you need to know [04:45] What James learned from Unshakeable [05:25] Most people panic when the
stock market drops [05:45] Getting rid of your fear of investing [06:15] Last January was the
worst opening, but it was a correction [06:45] You are losing money when you sell on corrections [06:55] Bear
markets come every 5 years on average [07:10] The greatest opportunity for a millennial [07:40] Waiting for corrections to invest [08:05] Warren Buffet's advice for investors [08:55] If you miss the top 10 trading days a year... [09:25] Three different investor scenarios over a 20 year period [10:40] The best trading days come after the
worst [11:45] Investing in the current world [12:05] What Clinton and Bush think of the current situation [12:45] The office is far bigger
than the occupant [13:35] Information helps reduce fear [14:25] James's story of the billionaire upset over another's wealth [14:45] What money really is [15:05] The story of Adolphe Merkle [16:05] The story of Chuck Feeney [16:55] The importance of the right mindset [17:15] What fuels Tony [19:15] Find something you care about more
than yourself [20:25] Make your mission to surround yourself with the right people [21:25] Suffering made Tony hungry for more [23:25] By feeding his mind, Tony found strength [24:15] Great ideas don't interrupt you, you have to pursue them [25:05] Never - ending hunger is what matters [25:25] Richard Branson is the epitome of hunger and drive [25:40] Hunger is the common denominator [26:30] What you can do starting right now [26:55] Success leaves clues [28:10] What it means to take massive action [28:30] Taking action commits you to following through [29:40] If you do nothing you'll learn nothing [30:20] There must be an emotional purpose behind what you're doing [30:40] How does Tony ignite creativity in his own life [32:00] «How is not as important as «why» [32:40] What and why unleash the psyche [33:25] Breaking the habit of focusing on «how» [35:50] Deep Practice [35:10] Your desired outcome will determine your action [36:00] The difference between «what» and «why» [37:00] Learning how to chunk and group [37:40] Don't mistake movement for achievement [38:30] Tony doesn't negotiate with his mind [39:30] Change your thoughts and change your biochemistry [40:00] The
bad habit of being stressed [40:40] Beautiful and suffering states [41:50] The most important decision is to live in a beautiful state no matter what [42:40] Consciously decide to take yourself out of suffering [43:40] Focus on appreciation, joy and love [44:30] Step out of suffering and find the solution [45:00] Dealing with mercury poisoning [45:40] Tony's process for stepping out of suffering [46:10] Stop identifying with thoughts — they aren't yours [47:40] Trade your expectations for appreciation [50:00] The key to life — gratitude [51:40] What is freedom for you?
According to Vanguard, the
worst bond
market loss in history was less
than one - sixth of the magnitude of the
worst stock market losses.
Gold
stocks have been in a bear
market for more
than three and a half years and in terms of price are very close to matching the
worst bear
market of all 1996 - 2000.
The
worse than expected US housing
market numbers weren't enough to break the bounce in
stocks and the Dollar, as the easing of the North Korea related fears helped risk assets across the board.
For all asset classes (but focusing on currencies), they define
bad market conditions as months when the excess return on the broad value - weighted U.S.
stock market is less
than 1.0 standard deviation below its sample period average.
-LSB-...] The Most Interesting Asset Class Over the Next Decade «Vanguard highlighted high - yield bonds to show how they typically perform
worse than other types of bonds during a
stock market drop.»
If 90 % of funds underperform anyway, and if
market prices reflect all available information and analysis, then are my chances as an individual
stock picker really much
worse than Susan's, despite her credentials, connections and resources, or am I stretching the point?
A
stock that performs 50 percent
worse than the S&P 500 in a down
market and a
stock that performs 50 percent better
than the S&P 500 in an up
market will each have a high beta.
«Unfortunately, the convenience of investing - by - slogan, rather
than carefully thinking about finance and examining evidence, is currently leading investors into what is likely to be one of the
worst disasters in the history of the US
stock market.»
Vanguard highlighted high - yield bonds to show how they typically perform
worse than other types of bonds during a
stock market drop.
As usual, I don't place too much emphasis on this sort of forecast, but to the extent that I make any comments at all about the outlook for 2006, the bottom line is this: 1) we can't rule out modest potential for
stock appreciation, which would require the maintenance or expansion of already high price / peak earnings multiples; 2) we also should recognize an uncomfortably large potential for
market losses, particularly given that the current bull
market has now outlived the median and average bull, yet at higher valuations
than most bulls have achieved, a flat yield curve with rising interest rate pressures, an extended period of internal divergence as measured by breadth and other
market action, and complacency at best and excessive bullishness at
worst, as measured by various sentiment indicators; 3) there is a moderate but still not compelling risk of an oncoming recession, which would become more of a factor if we observe a substantial widening of credit spreads and weakness in the ISM Purchasing Managers Index in the months ahead, and; 4) there remains substantial potential for U.S. dollar weakness coupled with «unexpectedly» persistent inflation pressures, particularly if we do observe economic weakness.
It hasn't really been a bull
market it's been more like a b.s.
market... what's going to happen to this
stock market is going to be far
worse than what we saw in 2008.
Just dropping in to share the kind of recipe you, too, might make if you found yourself on a Thursday with a reasonably well
stocked pantry, a lot of kale (or other greens you picked up at the farmers»
market back on Saturday), and two sweet Italian sausages that you bought from the very same farmers»
market for way too many dollars and which are threatening to go
bad if you don't find a way to integrate them into this week's meal plan, a meal plan that has already incorporated more meat
than you really like to eat.
A decade ago, he bet that, between 2008 and 2017, a few hand - picked, costly, exclusive hedge funds would perform
worse than the overall
stock market.
This can lead to price swings (good or
bad) that are more volatile
than the overall
stock market.
Additionally, because the rate «floors» meant to protect
market - linked CDs from losses are rarely set as high as the caps on their gains,
bad stocks will harm performance more
than good
stocks will help.
People who retired around 2004 - 2005 (whose vital decade has been one of roughly zero returns in the
stock market) tend to be in much
worse shape
than those who retired a decade earlier, in the middle of a
stock market boom.
Not much
worse than the rest of the
market, though, and there are some
stocks that look interesting that could be worth considerably more three years out.
Even if you only «pay yourself» $ 100 / month for your work on the first house, you are doing
worse than you would in the
stock market.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the
market as a whole and may perform
worse than the
market.
e.g. on a universe of all liquid
stocks with pretty generous liquidity filters (price > $ 1, mcap > $ 100 million, on the
market for at least 1 year, inflation - adjusted daily dollar volume in the last 63 days > $ 100,000), before friction, and hold for 5 days (no other sell rule), tested on all start dates Sept 2, 1997 forward to Aug 18, 2015 and then averaged CAGR, leaving an average of 3360
stocks in the universe to then test: a. 17.6 % cagr bottom 5 % of
stocks left by
bad 4 day return (requiring price > ma200 was slightly
worse than this at 17.4 %; but requiring price < ma5 was better at 18.1 %) b. 16.0 % cagr bottom 5 % of
stocks left by
bad 5 day return c. 14.6 % cagr bottom 5 % by rsi (2) d. 14.7 % cagr for rsi (2) < 5 I have tested longer backtests on simpler liquidity filters (since my tests can't use all of the above filters on very long tests) and this still holds true:
bad return in the last 4 or 5 days beats low rsi (2) for 1 week holds.
The value of
stocks held in the Fund will fluctuate in response to factors that may affect a single company, industry,
market cap, country or region and may perform
worse than the
market.
Alternatively, if the
market falls, the
bad «short»
stocks should fall more
than the good «long»
stocks, so gains on the short sales should exceed losses.
But small cap
stocks (
market cap greater
than 300 million) aren't that difficult; the bid ask spread isn't that
bad.
Our research can tell you if you're earning more or less
than your peers, if you're wealthier or poorer
than others, and if your track record in the
stock market is better or
worse than most investors.
If a bear
market were to begin in US
stocks, European
stocks — especially the cheapest ones - would likely perform as
badly as or
worse than US
markets.
In the event of a U.S.
market correction, it is likely that European value
stocks (and European
stocks in general) would do as poorly, or
worse,
than the much more expensive US
market.
What if the
stock market does very well in the near future and you end up with more
than you thought you would like a million dollars or maybe millions of dollars and
bad people try to target you?
Piotroski recognized that, although it has long been shown that value
stocks (or high book - to -
market firms as he calls them) have strong returns as a group, there is nevertheless a very wide variability in terms of the returns of these
stocks, with most of them performing
worse than the
market.
«Even if small - cap / value outperformance was an inefficiency and it has been eliminated, there's no reason think that a portfolio tilted toward small - cap or value
stocks would perform any
worse in the future
than a «total
market» portfolio.»
While stop - limit orders eliminate the possibility of a
worse than expected price, if the
market or
stock is moving quickly, your order may go unfilled if the broker can not execute your order fast enough once the price passes your limit.
If the
market falls, the
bad stocks should fall more
than the good, so gains on the short sales should exceed losses.
Another way: Retirees supported by investments make a planned cash withdrawal in a
bad market and thus have to sell more
stock to achieve that cash goal
than they would need to if the
market were higher.
If using a
market order - yes you will buy or sell, but in an illiquid
stock with a large spread you will get a very
bad price for it, likely more
than 10 % away from the last traded price.
That was reinforced by recent
market action in which international
stocks have fared
worse than U.S. equities.
Gold
stocks have been in a bear
market for more
than three and a half years and in terms of price are very close to matching the
worst bear
market of all 1996 - 2000.
There is no
worse feeling in the world
than taking out a large bet against the
market and seeing your capital dwindle if
stocks shoot higher.
This is especially important for younger workers, where history has proven that the long - term gains of the
stock market are far more
than enough to compensate for a
bad year or even a recession.
As Greenblatt notes «Imagine diligently watching those
stocks each day as they do
worse than the
market averages over the course of many months or even years... The magic formula portfolio fared poorly relative to the
market average in 5 out of every 12 months tested.
«Even after Friday's large
stock market rally, only 10 of the
stocks in the Standard & Poor's 500, the premier American
stock index, are higher
than they were at the end of 2007, and the index itself is down almost as far as it was in the
worst year it ever experienced, at the height of the Great Depression.