Michael Zhuang

Chinese Market Annihilated - Cramer's Lightning Round (9/24/08)

Jimbo called the Chinese market annihilated after it is already down 70%, how about calling it before it happened, like I did last year ...

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WaMu Shows, Again, Smart Money Can Be Wrong

This lesson here is not that you need to do your homework - I am sure Bill Nygren and David Dreman did their homeworks - but that many times we just don't know. Diversify your investments among multiple asset classes (Like Harvard and Yale endowments) and not betting on any one company is the most prudent approach. (The website link to the left will take you to an article on that.)

Can Investor Sentiment Be Rescued?

Of all things to rescue, why investment sentiment? Don't you know the more bearish the sentiment, the higher the future return. This has been studied using the same AAII sentiment data: (Website link to the left)

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Why Friday Came Early

Mr. Waldman, I enjoy your essay. The situation is bordered on hilarious, if not grim.

Wetwillie upstair, what you wrote is admirable. America needs some tough medicine to get back on her feet. Bailout is no medicine at all.

Asset Class Investing: A Strategy For Both Bull and Bear Markets

Check out this article on Harvard-Yale style multi-asset investing

All-weather portfolio: how Harvard and Yale invest for bad times

(Click the Website link to the left.)

Learning From The Harvard & Yale Endowments

Harvard and Yale's 2008 returns were 8.6% and 2% (their calendar year ends in June). The is much better than -14.6% of the S&P 500. I studied how they were able to maintain steady and stable returns over two cycles of boom and bust in this article "All-weather portfolio: how Yale and Harvard endowments did it?" You can read the article by clicking the website link on the left.

Cramer Also Believes Cramer Has a Branding Problem

Totally agree with venividivici: his calls on Bear Stearns were classic "Cramerism". Need proof?

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An Endowment Portfolio From Publicly-Traded Vehicles

Great study. However,using publicly trading vehicles would not achieve the returns of Yale-Harvard endowments. Much of their returns were generated by alpha generating strategies and high barriers market involvements. However, for ordinary investors like us, using publicly available vehicles to mimic their approach is still a very sound strategy. I studied the evolution of their approach in my article "All-weather portfolio: investing like Yale-Harvard Endowments". You can read the article by clicking the website like on the left.

David Swensen's Yale Endowment Portfolio

Yale-Harvard Endowments' 2008 returns were 2% and 8.6% respectively, beating the -14% of the S&P 500 index handily. I studied their approach wrote an article "All-weather portfolio: how Yale-Harvard Endowments did it?" You can get to that article by clicking the website link on the left.

Performance for Harvard, Yale Endowments in 2008

coincidentally, I just wrote an article "All-weather portfolio: how Yale-Harvard endowments did that?"

investmentscientist.co...

The Rally was the Real Deal - Cramer's Mad Money (9/2/08)

Don't you worry about Cramer. When the market finally rallys (maybe a year from now), Cramer will be there to tell you "I told you so."

Ignore Stock Market Volatility

Very good advice. In fact, studies (such as this one) shows volatility has little to do with risk. Volatility's impact is more psychological.

Book Review: 'Super Stocks'

It does not take Ken Fisher and Ken Fisher is certainly not the first one to find that P/S ratio works. As a matter of fact, P/E, P/S, P/CF, P/B, dividend yield etc, any one of them can be an effective valuation measure.

Investment Discipline in the Year of Capitulation

Very good.

Do Dividend Stocks Underperform the Market?

There is a reason why Charles Schwab is a discount broker.