Getting Sharpe(r)

One of the ironclad truths of investing is that with higher reward comes higher risk. I’ve been thinking a lot, years actually, about how to bend that relationship to earn higher returns while simultaneously lowering risk. Covered calls, which protected clients from significant downside risk during the February correction, had some promise as a method…

Contrarian Killer

Markets just don’t seem to go down anymore, and valuations don’t seem to matter anymore either. And that makes this one of the most unusual and uncomfortable markets I’ve been in. I call this market the Contrarian Killer. That’s because every valuation metric that mattered in the past that had led to a precipitous decline…