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Prepare for Turn: Macro/Passive Out and Selective/Active In

By John S. Tobey

Macro investing is losing its grip on investment returns as “global” twists and turns (and frights) diminish in importance. In its place is a growing realization that security selection is back – that there is good money to be made by correctly separating the winners from the pack. Therefore, expect macro investing to give... »

Pitfalls in Today’s US Stock Market – Part 2

By John S. Tobey

This write-up continues yesterday’s discussion of an investment approach that seeks to frighten investors into selling at abnormally low prices. Under “II. Why is it allowed to exist,” we covered the removal of short-selling controls (uptick and “naked”) and weak enforcement of false rumors. Today, we will review two other important, negative forces in... »

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