Aaron Brown
Bloomberg
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Past articles by Aaron:
TINA Is Still the Only Wall Street Acronym That Matters
Are you with TINA or TARA? That’s a trick question. By shunning stocks when their prospects seem poor and alternatives seem enticing, you will miss more rallies than crashes. → Read More
Treasury Bill Rates at 5% Are No Bargain
The safest investment in the world is paying more than anytime since 2007. But you’re still going to lose money unless there’s a historic slowdown in inflation. → Read More
How Do Bettors Love Football? Let Us Count the Ways
There is enough scoring and enough different types of scoring to create good gambling opportunities. → Read More
Wall Street Quants Shouldn't Confuse Luck With Skill
A public spat between two hedge fund firms proves that when it comes to factor investing, small deviations in the details can make a big difference. → Read More
Want to Succeed on Wall Street? Learn Poker, Not Economics
A new study from the Federal Reserve finds that among professional investors, neither intelligence nor other personality traits and cognitive skills matter much. → Read More
Not Even AI Can Beat the Market These Days
A tireless machine able to digest all information and immune to biases should be clearly superior to humans when it comes to investing. Except it's not. → Read More
What the Inverted Yield Curve Says About the Next Recession
While the signs are ominous, they’re not yet suggesting an economic disruption as severe as the one that ended the 1970s inflation shock. → Read More
Diversifying? Volatility Matters More Than Size
How many stocks do you need to have a properly diversified portfolio? Bigger is generally better, but it depends more on your luck. → Read More
FTX Collapse Is a Feature, Not a Bug, of Financial Innovation
It’s not as if “more regulation” has any track record of success. Failure means we need more experimentation with more new ideas until we find a mix that works. → Read More
At Twitter, Musk is Moving Fast and Breaking Things
The billionaire has a track record of leveraging software, and drawing in the capital and talent needed to build great companies. He can do it again. → Read More
Young Versus Old Will Define Fight Over Public Pensions
The market rout is exposing the vulnerability of the US public pension system. Inflation and the tight labor market will force the worst-hit states into some hard decisions. → Read More
The Stock Market Had History on Its Side. Now It Doesn’t.
The August rebound suggested the lows were in. But the September slump means this year may be only the second time since 1873 when buying at the halfway recovery point was a mistake. → Read More
The Stock Market Had History on Its Side. Now It Doesn’t.
The August rebound suggested the lows were in. But the September slump means this year may be only the second time since 1873 when buying at the halfway recovery point was a mistake. → Read More
Risk Parity Funds Have Failed to Work as Advertised
Investors, especially nonprofessionals, have been hit with unexpected losses in a strategy designed to protect against an uncertain and volatile world. → Read More
Unless Rents Rise, Housing Is Set Up for an Epic Crash
All of the reasons to suggest residential real estate is not facing a disaster have melted away. → Read More
Abandoning Value Stocks Requires Some Dubious Assumptions
A new paper from hedge fund manager Cliff Asness has sparked a fierce debate about the link between interest rates and equities considered cheap based on fundamental metrics. → Read More
The Stock Market's Rebound Has History on Its Side
Since 1926, equities have recovered more than half of a 10% or larger decline 79 times and only once, in March 1930, did they reach a new low before setting a new all-time peak. → Read More
Stock Investors Better Hope a Recession Has Started
Equity declines of more than 20% that were not followed by deep economic contractions have always foreshadowed even bigger losses. → Read More
Is This a Stock Picker’s Market? It’s Complicated
In these unsettled times, it’s just better to be on the right side of global economic forces rather than bet on the prospects for individual equities. → Read More
Is This a Stock Picker’s Market? It’s Complicated
In these unsettled times, it’s just better to be on the right side of global economic forces rather than bet on the prospects for individual equities. → Read More