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Updated asset class return quilt for 2025 novelinvestor.com/asset-class-...
“It is important to make sure that one is not lured by rash enthusiasm into commitments at levels greatly above those soundly warranted by the financial set-up and the earnings record.” -- Benjamin Graham
January 16, 2026 at 5:15 PM
“It is important to make sure that one is not lured by rash enthusiasm into commitments at levels greatly above those soundly warranted by the financial set-up and the earnings record.” -- Benjamin Graham
Weekend Reads - 1/16/25 • Novel Investor novelinvestor.com/weekend-read...
January 16, 2026 at 1:14 PM
Weekend Reads - 1/16/25 • Novel Investor novelinvestor.com/weekend-read...
“Pro-cyclical behavior is one of the greatest and one of the most frequent mistakes.” -- Howard Marks
January 15, 2026 at 5:15 PM
“Pro-cyclical behavior is one of the greatest and one of the most frequent mistakes.” -- Howard Marks
“It's worth reminding ourselves from time to time that gyrations in a stock price may tell us absolutely nothing about the prospects of the company involved.” -- Peter Lynch
January 14, 2026 at 5:15 PM
“It's worth reminding ourselves from time to time that gyrations in a stock price may tell us absolutely nothing about the prospects of the company involved.” -- Peter Lynch
2025: A Year in Returns • Novel Investor novelinvestor.com/2025-a-year-...
January 14, 2026 at 3:45 PM
2025: A Year in Returns • Novel Investor novelinvestor.com/2025-a-year-...
Peter Bernstein on market paradigm shifts.
January 14, 2026 at 2:15 PM
Peter Bernstein on market paradigm shifts.
“The best kind of business to be in is something where you sell something that costs a penny and sells for a dollar and is habit forming.” -- Warren Buffett
January 13, 2026 at 5:15 PM
“The best kind of business to be in is something where you sell something that costs a penny and sells for a dollar and is habit forming.” -- Warren Buffett
“One thing all of us know for sure is that the stock market doesn't go down just because a lot of folks think that it has entered the heart of looney land.” -- Robert Kirby
January 12, 2026 at 5:15 PM
“One thing all of us know for sure is that the stock market doesn't go down just because a lot of folks think that it has entered the heart of looney land.” -- Robert Kirby
Ben Graham on preparing your portfolio for unexpected events.
January 12, 2026 at 2:15 PM
Ben Graham on preparing your portfolio for unexpected events.
“Confidence is not a very good indicator of accuracy.” -- Daniel Kahneman
January 9, 2026 at 5:15 PM
“Confidence is not a very good indicator of accuracy.” -- Daniel Kahneman
Weekend Reads - 1/9/26 • Novel Investor novelinvestor.com/weekend-read...
January 9, 2026 at 1:00 PM
Weekend Reads - 1/9/26 • Novel Investor novelinvestor.com/weekend-read...
“What you really want to do in investments is figure out what’s important and knowable. If it's unimportant or unknowable, you forget about it.” -- Warren Buffett
January 8, 2026 at 5:15 PM
“What you really want to do in investments is figure out what’s important and knowable. If it's unimportant or unknowable, you forget about it.” -- Warren Buffett
“My idea of a great business is one that has a shortage of competitors.” -- Peter Lynch
January 7, 2026 at 5:15 PM
“My idea of a great business is one that has a shortage of competitors.” -- Peter Lynch
Asset Class, Sector, and Global Market Quilts Updated for 2025 • Novel Investor novelinvestor.com/asset-class-...
Asset Class, Sector, and Global Market Quilts Updated for 2025 • Novel Investor
The asset class, sector, international, and emerging markets return quilts have been updated through 2025.
novelinvestor.com
January 7, 2026 at 4:41 PM
Asset Class, Sector, and Global Market Quilts Updated for 2025 • Novel Investor novelinvestor.com/asset-class-...
Arthur Rock on what he looked for when investing in startups.
January 7, 2026 at 2:15 PM
Arthur Rock on what he looked for when investing in startups.
“Memory – and the resulting prudence – always comes out the loser when pitted against greed.” -- Howard Marks
January 6, 2026 at 5:15 PM
“Memory – and the resulting prudence – always comes out the loser when pitted against greed.” -- Howard Marks
Updated Emerging Markets Returns quilt for 2025 novelinvestor.com/emerging-mar...
January 5, 2026 at 7:23 PM
Updated Emerging Markets Returns quilt for 2025 novelinvestor.com/emerging-mar...
Updated International Returns quilt for 2025 novelinvestor.com/internationa...
January 5, 2026 at 5:49 PM
Updated International Returns quilt for 2025 novelinvestor.com/internationa...
“The great lesson in microeconomics is to discriminate between when technology is going to help you and when it’s going to kill you.” -- Charlie Munger
January 5, 2026 at 5:15 PM
“The great lesson in microeconomics is to discriminate between when technology is going to help you and when it’s going to kill you.” -- Charlie Munger
Updated S&P Sector quilt for 2025 novelinvestor.com/sector-perfo...
January 5, 2026 at 4:04 PM
Updated S&P Sector quilt for 2025 novelinvestor.com/sector-perfo...
Updated asset class return quilt for 2025 novelinvestor.com/asset-class-...
January 5, 2026 at 3:34 PM
Updated asset class return quilt for 2025 novelinvestor.com/asset-class-...
Bill Miller on studying gamblers to be a better investor.
January 5, 2026 at 2:15 PM
Bill Miller on studying gamblers to be a better investor.
“At times of shock, converting illiquid assets to cash to build flexibility is very expensive. Finding an umbrella in a rain storm might be impossible or very costly.” -- Myron Scholes
January 2, 2026 at 5:15 PM
“At times of shock, converting illiquid assets to cash to build flexibility is very expensive. Finding an umbrella in a rain storm might be impossible or very costly.” -- Myron Scholes
Charley Ellis on emotions, mistakes, and losing.
January 2, 2026 at 2:15 PM
Charley Ellis on emotions, mistakes, and losing.
“The daily blips of the market are, in fact, noise -- noise that is very difficult for most investors to tune out.” -- Seth Klarman
January 1, 2026 at 5:15 PM
“The daily blips of the market are, in fact, noise -- noise that is very difficult for most investors to tune out.” -- Seth Klarman