I’ve posted Entry #9 to the weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Valuation-Informed Indexing Combines Fundamental Analysis and Technical Analysis.
Juicy Excerpt: A friend of yours has become an alcoholic. He has lost his wife, his family, his house, his health, his job, his income and his self-respect. You begin making the case for giving up the drinking but stop when you realize he knows everything you could say before you say it. It is obvious that he knows. He becomes intensely defensive when any of his failings are brought up. He swears to you that he can give up the drink any time he wants, that he has things under control. Do you take him at his word?