I’ve posted Entry #314 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called It’s Not Just Prices That Crash, It’s Also Confidence in Our Political and Economic Institutions.
Juicy Excerpt: When I see Bernie Sanders far exceeding expectations in his challenge to Hillary Clinton for the Democratic nomination for President, I think to myself “this is the insane bull market of the late 1990s coming to roost.” When I see Donald Trump winning the Republican nomination, I think to myself “this is what comes from a string of years in which we all pretended that out portfolios could increase by 15 percent or 20 percent or 25 percent.”
Fake stock gains produce political instability. That’s one of many reasons why I oppose fake stock gains. Everyone would agree if it were not for the non-integrated way in which we think about investing, economic and political issues.