Financial Bubbles – Investing Beyond the Fear of Bubbles
By JAMES PARKYN & FRANÇOIS DOYON LA ROCHELLE
In this Episode, James Parkyn & François Doyon La Rochelle discuss financial market bubbles history and perspectives.
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Read The Script:
1) INTRODUCTION:
François Doyon La Rochelle:
You’re listening to Capital Topics, episode #80!
This is a monthly podcast about passive asset management and financial and tax planning ideas for the long-term investor.
Your hosts for this podcast are James Parkyn and me François Doyon La Rochelle, both portfolio managers with PWL Capital.
In this episode, we discuss financial market bubbles history and perspectives.
Enjoy!
2) FINANCIAL BUBBLES - INVESTING BEYOND THE FEAR OF BUBBLES:
François Doyon La Rochelle:
I will start this off for our Listeners.
Our recent Podcasts have addressed the History of Market Cycles, long-term capital Market Returns, and Asset Allocation, reviewing the weight of US Equities vs International. We addressed how recent Capital Market returns have significantly exceeded Long Term Expected Returns, which may lead to lower future returns.
The next related Topic is about Valuation because the markets are now at all-time highs. The barrage of negative headlines is reaching a crescendo – this is September, historically the worst month for markets. We are seeing headlines flat out stating we are in a bubble.
At the end of the day, what is critical for Investors is how they will manage their emotions in this sea of crystal ball forecasting. We have been consistent in telling our listeners that it’s imperative they tune out the noise in the financial media. Although it is easier said than done.
This leads us to today’s topic, which is about the history of Financial Market Bubbles, History, and perspectives. So, James, where would you like to start?.…Read More
Links:
- Are We Due for Another Financial Bubble? What History Teaches Us About Market Crashes - WSJ By William Goetzman – The Wall Street Journal (A subscription is needed to view this article)
- Bubble Investing: Learning from History By William Goetzmann – CFA Institute Research Foundation
- The Financial Bubble Delusion: Why Crash Fears Cost Investors More Than Crashes Themselves By Robin Powell - TEBI