Lance Roberts

Lance Roberts



Mar 3, 2025
CAPE-5: A Different Measure of Valuation
One of the most referenced valuation measures is Dr. Robert Shiller's Cyclically Adjusted Price-Earnings Ratio, known as CAPE. Valuations have always been, and remain, an essential variable in long-term investing returns. Or, as Warren Buffett once quipped:"Price Is What...


Feb 18, 2025
The Impact of Tariffs Is Not as Bearish as Predicted
There are many media-driven narratives about the impact of tariffs on the economy and the markets. Most of them are incredibly bearish, predicting the absolute worst possible outcomes. For fun, I asked ChatGPT what the expected impact of Trump's tariffs will likely be.


Feb 11, 2025
Forecasting Errors Likely Put Fed on the Wrong Side Once Again
The Federal Reserve's record of forecasting has frequently led it to respond too late to changes in economic and financial conditions.


Feb 5, 2025
Bullish Exuberance Returns as Trump Takes Office
Bullish exuberance is returning to the markets and the economy in a big way following the Presidential election. Such is particularly the case with recent executive orders signed by Trump, which fulfill Trump's promises to "Make America Great Again."


Jan 29, 2025
Do Money Supply, Deficit and QE Create Inflation?
I recently debated with Michael Pento, who made an interesting statement that increases in the money supply, the deficit, and a return to quantitative easing (QE) will lead to 1970s-style inflation.


Jan 20, 2025
Tactically Bearish Moves as Risks Increase
In last week's discussion with Thoughtful Money, I noted that we are becoming more "tactically bearish" as we progress into 2025. While we have remained primarily bullish in equity positioning over the last two years, several risks are now worth considering.


Jan 15, 2025
'Curb Your Enthusiasm' in 2025
"Curb Your Enthusiasm," which ran its series finale last year, starred Larry David as an over-the-top version of himself in a comedy series that showed how seemingly trivial details of day-to-day life can precipitate a catastrophic chain of events.


Jan 6, 2025
Bob Farrell Rules – An Updated, Illustrated Guide
In a recent discussion on TheRealInvestmentShow, Bob Farrell and his 10 investment rules were discussed, which elicited several email questions asking, "Who is Bob Farrell, and where are these rules?"

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