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← The froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off.
17 connected korrents · 19 moments from 6 Dec 2012 to 8 Oct 2026. Nearly all of them are about stock market .
Everything filed under investing
investing
Everything filed under America
America
Everything filed under value investing
value investing
Everything filed under interest rates
interest rates Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: The froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off. The froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off. Last stated 2 months ago
25 Aug 2026
NM
Nick Maggiulli — holds since 2025-08-26 — tap for who they are
NM
Nick Maggiulli — no longer holds since 2026-08-25 — tap for who they are
Same subject: The base rate for US stocks over any one year is that they rise, and forgetting it is how market calls go wrong. — tap to centre the map on it The base rate for US stocks over any one year is that they rise, and forgetting it is how market calls go wrong. Last stated 2 months ago
25 Aug 2026
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. — tap to centre the map on it A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. Last stated 8 months ago
3 Mar 2026
SB
Sanjay Bakshi — holds since 2026-03-03 — tap for who they are
Same subject: A society's prosperity comes from its productivity, not from the financial system or stock market. — tap to centre the map on it A society's prosperity comes from its productivity, not from the financial system or stock market. Last stated 4 weeks ago
25 Sept 2026
MM
Mr. Money Mustache — holds since 2026-09-25 — tap for who they are
Same subject: AI stocks are behaving as if they are insensitive to interest rate changes. — tap to centre the map on it AI stocks are behaving as if they are insensitive to interest rate changes. Last stated 2 weeks ago
8 Oct 2026
BD
Brad DeLong — holds since 2026-10-08 — tap for who they are
Same subject: Almost all of the dot-com era's exuberance turned out to be warranted; we remember the failures and forget the value that era created. — tap to centre the map on it Almost all of the dot-com era's exuberance turned out to be warranted; we remember the failures and forget the value that era created. Last stated a year ago
18 Aug 2025
BT
Bret Taylor — holds since 2025-08-18 — tap for who they are
Same subject: Almost no mutual fund earns the fees it charges, so most investors are better off buying an index fund. — tap to centre the map on it Almost no mutual fund earns the fees it charges, so most investors are better off buying an index fund. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: An investor's starting point should be the portfolio that is best to hold independent of any tactical market view — tap to centre the map on it An investor's starting point should be the portfolio that is best to hold independent of any tactical market view Last stated 2 months ago
25 Aug 2026
RD
Ray Dalio — holds since 2026-02-19 — tap for who they are
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: Because stock returns are concentrated in a few winners that are very hard to know in advance, owning the whole index guarantees owning whichever ones turn out to be the drivers. — tap to centre the map on it Because stock returns are concentrated in a few winners that are very hard to know in advance, owning the whole index guarantees owning whichever ones turn out to be the drivers. Last stated 2 years ago
28 May 2024
MH
Morgan Housel — holds since 2024-05-28 — tap for who they are
Same subject: A century of fire suppression policy in the American West has dangerously overloaded forests with fuel and made megafires more likely. — tap to centre the map on it A century of fire suppression policy in the American West has dangerously overloaded forests with fuel and made megafires more likely. Last stated 2 months ago
22 Aug 2026
JP
Jennifer Pahlka — holds since 2026-08-22 — tap for who they are
Same subject: A Chinese crewed landing on the Moon before America returns would be a defeat for the free world. — tap to centre the map on it A Chinese crewed landing on the Moon before America returns would be a defeat for the free world. Last stated 2 months ago
18 Aug 2026
CH
Casey Handmer — holds since 2025-10-31 — tap for who they are
EB
Eric Berger — holds since 2026-08-18 — tap for who they are
Same subject: A city's first rail line comes in at a reasonable cost and every line after it does not, because the follow-up outgrows the in-house team that oversaw the pilot. — tap to centre the map on it A city's first rail line comes in at a reasonable cost and every line after it does not, because the follow-up outgrows the in-house team that oversaw the pilot. Last stated 2 years ago
7 Dec 2024
AL
Alon Levy — holds since 2024-12-07 — tap for who they are
Same subject: A diesel export ban would probably do little for U.S. affordability, would deter business investment, and would weaken America's hand against China on energy. — tap to centre the map on it A diesel export ban would probably do little for U.S. affordability, would deter business investment, and would weaken America's hand against China on energy. Last stated 4 weeks ago
24 Sept 2026
PK
Paul Krugman — holds since 2026-09-24 — tap for who they are
Same subject: A fox who sees many factors in play cannot judge in a blink; they reason 'on the one hand, and on the other' and must reconcile the conflicting arguments. — tap to centre the map on it A fox who sees many factors in play cannot judge in a blink; they reason 'on the one hand, and on the other' and must reconcile the conflicting arguments. Last stated 14 years ago
6 Dec 2012
PT
Philip Tetlock — holds since 2012-12-06 — tap for who they are
Same subject: A large, sustained AI capability lead by either the US or China could shift the global balance of power between them. — tap to centre the map on it A large, sustained AI capability lead by either the US or China could shift the global balance of power between them. Last stated 2 months ago
5 Sept 2026
NS
Noah Smith — holds since 2026-09-05 — tap for who they are
Same subject: America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would. — tap to centre the map on it America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would. Last stated 2 months ago
7 Sept 2026
PK
Paul Krugman — holds since 2026-09-07 — tap for who they are
Same subject: Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner. — tap to centre the map on it Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner. Last stated 8 months ago
9 Feb 2026
JC
JL Collins — holds since 2026-02-09 — tap for who they are
Same subject: Persistent US trade deficits are the mirror image of trade partners' capital account surpluses caused by beggar-thy-neighbor industrial policy — tap to centre the map on it Persistent US trade deficits are the mirror image of trade partners' capital account surpluses caused by beggar-thy-neighbor industrial policy Last stated 2 years ago
7 Apr 2025
SH
Samuel Hammond — holds since 2025-04-07 — tap for who they are
At the centre
The froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off.
No longer holds Read this korrent →
The base rate for US stocks over any one year is that they rise, and forgetting it is how market calls go wrong.
Holds
A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack.
Holds
A society's prosperity comes from its productivity, not from the financial system or stock market.
Holds
AI stocks are behaving as if they are insensitive to interest rate changes.
Holds
Almost all of the dot-com era's exuberance turned out to be warranted; we remember the failures and forget the value that era created.
Holds
Almost no mutual fund earns the fees it charges, so most investors are better off buying an index fund.
Holds
An investor's starting point should be the portfolio that is best to hold independent of any tactical market view
Holds
Because stock returns are concentrated in a few winners that are very hard to know in advance, owning the whole index guarantees owning whichever ones turn out to be the drivers.
Holds
A century of fire suppression policy in the American West has dangerously overloaded forests with fuel and made megafires more likely.
Holds
A Chinese crewed landing on the Moon before America returns would be a defeat for the free world.
Holds
A city's first rail line comes in at a reasonable cost and every line after it does not, because the follow-up outgrows the in-house team that oversaw the pilot.
Holds
A diesel export ban would probably do little for U.S. affordability, would deter business investment, and would weaken America's hand against China on energy.
Holds
A fox who sees many factors in play cannot judge in a blink; they reason 'on the one hand, and on the other' and must reconcile the conflicting arguments.
Holds
A large, sustained AI capability lead by either the US or China could shift the global balance of power between them.
Holds
America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would.
Holds
Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner.
Holds
Persistent US trade deficits are the mirror image of trade partners' capital account surpluses caused by beggar-thy-neighbor industrial policy
Holds