The Kelly Letter’s first-quarter rebalance demonstrated anew why we do not get caught up in endless discussions about bond market fluctuation. During the quarter, small-cap stock funds stole the show: Q1 2021 Price Change (%) – – – – – – – – – – – – – – – +18.1 S&P SmallCap 600 (IJR) […]
Category Archives: Bonds
Any General Bond Fund Will Work In Your Sig Plans
Many subscribers ask why The Kelly Letter uses three different bond funds across its three Sig plans. The funds it uses are: 3Sig: BND 6Sig: SCHZ 9Sig: AGG The only reason I use three different funds is to illustrate that any general bond fund will do. If I used only one bond fund across the […]
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Stock Market Analysts Are Useless
In this video, I’ll provide more evidence that stock market analysts are useless, with help from Sarah Gordon at the Financial Times, who recently summarized today’s installments. I call analysts “z-vals” for their 50% mistake rate. It’s a shorthand of the term “zero-validity environment” used by Daniel Kahneman in his book Thinking, Fast and Slow […]
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