This article explains in the simplest possible terms the fragility of US equities, based on a deeper understanding of the nature of valuation and the earnings cycle. This is why a hedging strategy has become important.
Why Stock Prices Are More Stretched than You Think: A Tale of 3 P/E Multiples
Tax-Efficient Investing: How the Right Strategy Saves You Hundreds of Thousands
Effective compounding and tax minimization are not competing goals. They reinforce each other. The discipline that drives superior long-term compounding uses aggressive risk management to minimize drawdowns and so also
