Sticky Luck

How Well Do You Understand the Stock Market?

You've had a portfolio for years - should be pretty familiar now, right?

Unfortunately, the stock market is notorious for what I have dubbed "sticky luck" - its tendency to convince us of some profound wisdom over many years, only then to desert us suddenly in the cruelest way.  This site is dedicated to the understanding of sticky luck, and its implications for a sound investment strategy.

Who Am I?

An actuary and consultant who has spent the past thirty years advising multinationals on pension matters.

After studying market patterns over that time, I realized that available literature was inadequate to explain what was going on.  Moreover, much of that literature seems to be out to make money in some way.  Nothing wrong with that, but unfortunately the profit-motive has damaged the objectivity of what's on offer.

The content of this site is free, provided its copyright is respected.  If you think that's a measure of its worth, then maybe you're a victim of the market's pricing structure.  You should at least risk thirty minutes reading Chapter 2.

What Do I Have For You?

Right now, a series of essays.  Though I've designed them to be as readable as possible, some of them do involve a little bit of mathematical theory.  But if you are not that way inclined, don't worry - you can skip parts you don't like without losing the thread.  

None of the content here may be reproduced without the author's permission, but web links are encouraged.