The Day the Market Stopped • Novel Investor
The assassination of Archduke Franz Ferdinand triggered a chain of events that led to WWI and the longest market closure in NYSE history.| Novel Investor
The hard part of investing, why we do stupid things money, the market hates hubris, the benefits of base rates, and more weekend reads.| Novel Investor
International and emerging market stocks underperformed U.S. stocks over the past 15 years. It wasn’t consistent every year. In fact, international led in three of those 15 years while emerging markets led in four. Still, it wasn’t enough to outpace the U.S. So far, this year has been another exception. Through nine months, both international […]| Novel Investor
Quote for the Week The first thing you need to understand is that bubbles can only come when all the stars align: The economy’s got to be good; the outlook has got to be good. New technological changes are going on. As far as the eye can see, there’s only prosperity. Only in that kind […]| Novel Investor
The asset class, sector, international, and emerging markets quilts are up to date through the third quarter of 2025. You can find updated interactive versions of each here: You can also download copies here or grab the images below. The usual dive into the quarterly and monthly returns on the year will be posted next week.| Novel Investor
Quote for the Week While all the chatter and excitement is taking place about big stocks, big gains, and “three-baggers,” long-term investment success really depends on not losing — not taking major losses. We all know that a 50 percent loss requires a double the next time up just to get even, but still we […]| Novel Investor
Every bull market produces a small percentage of people that get rich quick. They pick that one stock that goes to the moon or hit a lucky streak that never seems to end. They’re celebrated. Stories are written as if to suggest, “If they can do, maybe you can do it too.” It feeds hope. […]| Novel Investor
Chasing the crowd, the rarity of bubbles, an investing lesson from golf, the benefit of boredom, and more weekend reads.| Novel Investor
A site dedicated to the journey of learning and sharing timeless investing wisdom.| Novel Investor
The assassination of Archduke Franz Ferdinand triggered a chain of events that led to WWI and the longest market closure in NYSE history.| Novel Investor
