“You can’t tune out the massive industry of investment prediction unless you want to: otherwise you’ll never have the fortitude to stop listening. But if you can plug your ears to every attempt (by anyone) to predict what the markets will do, you will outperform nearly every other investor alive over the long run. Only the mantra of ‘I don’t know and I don’t care’ will get you there.”

Jason Zweig

In This Edition

• A Note from Paul: Bon Voyage
• Hidden Gems: A Library of AAII Articles
• Truth Teller of the Week: Rob Berger
• This Week’s Podcast: 10 Listener Questions in One Hour
• Coming Up: Paul Merriman & Ben Carlson on Full Disclosure
• From a Listener

A Note from Paul

Bon Voyage

By the time you get this message my wife and I will be in Europe to join many of our fellow Bainbridge neighbors for a cruise around the Baltic Sea. As I was packing I stopped long enough to read one of the most interesting studies regarding the past and future of index funds. I hope you will all read “The Active Side of Indexing” as it gives an inside look at the S&P 500 that most of us have never seen.

I am sure this “brief” will generate lots of responses from those of us who believe in balanced portfolios that represent a more balanced view of market exposure. I will be on the lookout for those articles. If you happen across one please forward to paul@paulmerriman.com. While we are traveling I devote the early hours to reading your emails and watching the wacky world of investing. I look forward to hearing from you.

By the way, please note how much “market timing” is an important component of index funds.

Hidden Gems

A Library of AAII Articles

For years, Chris Pedersen and I have written regularly for the American Association of Individual Investors — and we still do. Our articles tackle the questions we hear most: how to build your first portfolio, how much risk is right for you, and how to make your money last a lifetime. They’re all gathered in one place.

Browse the AAII article archive →

Truth Teller of the Week

Rob Berger

If there’s one person who does the homework so you don’t have to, it’s Rob Berger. Every week Rob curates a thoughtful mix of articles, videos, and tools that cut through the noise — and what sets his work apart isn’t just what he shares, it’s the judgment behind it. In a world that’s constantly trying to sell you something, Rob is simply trying to help you decide. I’d encourage you to take a look.

See why Rob made our Truth Tellers list →

This Week’s Podcast

10 Listener Questions in One Hour

Is there an asset class you can safely drop? How many years should you trust a strategy before you believe in it? Can holding 10% in cash really move your returns? Chris and I sat down to answer 10 of your questions in a single hour — covering asset allocation, investor behavior, funds, indexes, and fund management. We also dig into Daryl Bahls’ hot-off-the-press alternative portfolio analysis.

▶ Listen to the Episode

Watch on YouTube

Coming Up

Paul Merriman & Ben Carlson on Full Disclosure

While I’m away, be sure to catch a conversation I joined Robin Farzad for on his Full Disclosure podcast, alongside my friend Ben Carlson — whose new book, Risk and Reward: How to Handle Market Volatility and Build Long-Term Wealth, is one of the clearest, most practical guides to investing I’ve read in years.

We covered a lot of ground: who was really buying the S&P 500 fifty and a hundred years ago, how much diversification is too much, why small-cap value and international still belong in a portfolio, and the question Ben and I keep coming back to — how do you actually get an investor to buy and hold? It’s a lively, wide-ranging hour, and I think you’ll enjoy it.

Watch on Full Disclosure

From a Listener

“Any and every podcast which includes Mike Piper is an absolute master class. The Oblivious Investor is also a must-read free subscription. Thanks Paul for having Mike as a guest.”

— Comment under last week’s interview with Mike Piper

Missed it? Here are the video and audio of Mike’s comments.

From Paul Merriman

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The "market timing" hidden inside index funds