The New Capital Journal
Financial news, views, advice, and guidance.
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Midyear Review: Stocks Maintain Momentum at Year’s Halfway Point
The market rally that began in the second half of 2023 carried over to the first half of 2024, even as inflation fell slightly and the Fed kept rates steady.
Dimensional 2024 Matrix Book
Dimensional’s annual survey of investment performance draws on historical data to look beyond short-term market fluctuations and shed light on the dimensions that explain differences in returns.
Navigating Uncertainty: A Post-College Road Map
You can thrive in a world of uncertainty and create a life that is uniquely your own.
Q1 Quarterly Market Review
This report features world capital market performance and a timeline of events for the past quarter.
What I See When I Watch Basketball
What I love is witnessing an arena full of athletes trying their absolute hardest, working together to achieve a common goal.
Many Happy Returns
I believe that the key to successful investing is to cultivate a long-term perspective, where you think in decades, not days.
Going Global for Value
Global diversification can increase the reliability of outperformance for strategies pursuing higher than market returns.
High Rates Don’t Put the Brakes on Stocks
Historical evidence suggests that interest rates have not been meaningful predictors of stock returns.
Q3 Quarterly Market Review
This report features world capital market performance and a timeline of events for the past quarter.
Chart of the Week: Beware of Sample Periods
Investors should evaluate fully representative data rather than falling for the “shiny object” of recent performance.
Practicing Healthy Habits, Pursuing Wealthy Outcomes
Good investing, like good health, requires long-term discipline and commitment.
Think Twice about Chasing the Biggest Stocks
As companies grow to become some of the largest firms trading on the US stock market, the returns that push them there can be impressive. But not long after joining the Top 10 largest by market cap, these stocks, on average, lagged the market.
Real-Time Ratings Are More Dynamic than Fitch’s
Markets are forward-looking and the concerns that played into Fitch’s decision are not new information to most investors.
Why A Stock Peak Isn’t A Cliff
Many investors may think a market high is a signal stocks are overvalued or have reached a ceiling.
Q2 2023 Market Review - Webinar
Watch a recording of our webinar: Q2 Market Review presented by Leonard Golub, CFA.
The Evolution of Small Cap Investing: Four Decades of Innovation at Dimensional
Over the past 20 year, 92% of Dimensional’s small cap funds outperformed their benchmarks vs. only 30% industry-wide.
Midyear Review: Staying Focused as Markets Shift
The first half of the year has given investors plenty to process—from banking turmoil to a morphing yield curve to the debt ceiling debate.
Q2 Quarterly Market Review
The DFA Quarterly Market Review features world capital market performance and a timeline of events for the past quarter. It begins with a global overview, then features the returns of stock and bond asset classes in the US and international markets.
Why the Wisdom of the Market Crowd Beats AI
Despite all the promise of AI, I prefer to accept market prices rather than prices from algorithms.
Let the Compounding Commence!
Congratulations to the high school and college Class of 2023! We highly recommend this article to all graduates and their families and hope that it will encourage you to continue your personal and financial growth.