esc
News & research for the 200-week investor
The Letters.
Industry news, market commentary, and field research on value investing, set-and-forget discipline, and the 200-week moving average.
All letters
Japan’s Lost Decades: What Long-Term Investors Should Actually Take Away
ISRG, October 2023: a year on the line.
The week AXP reached its 200-week mean — October 2023.
The Quiet Reason the Greatest Investors Almost Never Use Leverage
What we learned the week HCA hit its 200-week SMA in 2017.
Why Market Timing Models Look Great in Backtests and Fail in Production
MS, September 2020: a year on the line.
The Compounding Frequency Trap: Why More Trading Almost Always Hurts
The week ALB reached its 200-week mean — September 2020.
Stock-Bond Correlation Is Not a Law of Nature. Your Portfolio Should Reflect That.
September 2022: NVDA kissed the line.
What Makes a Portfolio Survive a Real Recession (Not the 2020 Kind)
What we learned the week ENPH hit its 200-week SMA in 2018.
CMG touched its line in August 2018. Here’s what happened next.
What we learned the week DELL hit its 200-week SMA in 2022.
Momentum and Mean Reversion Both Work. They Just Work on Different Time Horizons.
PANW touched its line in August 2017. Here’s what happened next.
Private Equity for Retail Investors: Mostly a Repackaging of Things You Already Own
What we learned the week ALGN hit its 200-week SMA in 2019.
The week AXON reached its 200-week mean — August 2017.
July 2023: NRG kissed the line.
The week FCX reached its 200-week mean — July 2020.
What we learned the week SLB hit its 200-week SMA in 2022.
July 2020: TPL kissed the line.
No letters in that category yet.