INDEX

100 Minds That Made the Market (Green)

18-month rule. See Eighteen-month rule

1918 global flu

“1980 Revisited”

2008 credit crisis

2 percent rule. See Two percent rule

401(k):

dollar-cost averaging

overconfidence and

single stock ownership

5 percent rule. See Five percent rule

70/30 Rule. See Seventy-thirty rule

90-day moving averages

Absolute return:

expectations and

focus on

low, safe

negative

vs. relative return

Accounting:

fair-value

“irregularities”

restrictions

scandals

Accretive to earnings

ACWI. See All-Country World Index (ACWI)

ADRs. See American depositary receipts (ADRs)

Advanced fad avoidance

Advantage:

bell curves and

overconfidence and

overweighting/underweighting sectors

PSR and

Three Questions and

After-tax borrowing cost

Aggressive growth

AIG

All-Country World Index (ACWI)

Altria

Always look at it differently:

generally

question three preview

upside down, backward

your grandparents and

America. See also United States (US)

budget deficits and

earnings/bond yields and

foreigners not propping up

foreign forces and

GDP of

indebtedness and

inflation and

P/E’s and

pollsters and

property rights in

yield curve and

American Association of Individual Investors

American depositary receipts (ADRs)

American Industrial Revolution

Analysis:

complicated

technical

Anatomy of a bubble:

2000 bell curve

bearish predictions

bubble as “new paradigm

economic sector weights

Announcement effect

Annualized averages

Apple/iPods

Apprenticeships

Arithmetic mean

Asia

Asset allocation:

market scenarios/conditions and

returns and

static

subasset allocation

Auditing firms

Autobiography of Alice B. Toklas, The (Stein)

Avian flu (bird flu), impact

Balance sheet:

of buy-out target

calculations

of central banks

FAS 157 and

liabilities side of

US hard asset

Bank(s). See also Central banking system

asset write-downs

global

illiquid assets and

short rate for

Bank of England

Barry, John M.

Baum, L. Frank

BBB 10-year bond rate

Bear market(s):

of 2008

acting alone

bearish too early

beginning of

betting an up Friday

causes (see Causes of bear market)

cross-dressing

defensive portfolio in

energy-led

financials-led

first-year returns following

followed by bull market

four biggest

global

normal course of

“perma-bears”

recession and

reentry time frame

rules, basic

secular

steep portions of

sympathy selling

US

Bear Stearns

Beating the market

Behavioral finance

Behavioralists:

break-even

confirmation bias (see Confirmation bias)

framing and

gains/losses and

hindsight bias (see Hindsight bias)

loss aversion (see Myopic loss aversion)

Stone Age and

Behavioral psychology

Beliefs. See also Mythologies

confirmation bias and

shared

widely-held

Bell, Neil

Bell curve:

for 2000

consensus

contrarians and

sentiment and

technology

Benchmark/benchmarking:

beating your

broad

components, analysis of

equities and

global (see Global benchmarking)

lagging vs. beating

as measuring stick

risk control and (see also Benchmark risk)

sectors and

selection (see Benchmark selection)

vital to survival

Benchmark risk:

going to cash

as greatest risk

moving away from equities

taking on

Benchmark selection:

cash flow

generally

heat chasing/benchmark shifting

homegrown dividends

individual peculiarity

return expectation

risk tolerance and

stocks or bonds

time horizon and

Berkshire Hathaway

Bernanke, Ben

Bernstein, Richard

Bias:

confirmation

hindsight

recency

stock picking and

Big-cap stocks:

growth

investors in

percentage in

vs. small-cap

“Big Four” auditing firms

Bird flu. See Avian flu

Bloggers

Bloomberg.com

Blue chip stocks

Bonds:

earnings/bond yields and

expected returns/yields

global long

global trading in

government

holding onto

long-term debt and

vs. stocks

yields, since 2002

Borrowing costs:

after-tax

bank’s

calculations

marginal

profit and

return on assets and

Brain:

behavioral psychology and

biases (see Bias)

blindsiding us

information processing

as investing enemy

pattern recognition

Stone Age

Brazil

Britain. See also UK

British pound sterling

Brokerage account

Bryan, William Jennings

Bubble. See also Anatomy of a bubble

energy

technology (see Tech bubble)

Budget deficit(s):

as economic driver

good for stocks

myth, US dollar and

tax cuts and

Buffett, Warren

“Bullish for ’99” (Fisher)

Bull market(s):

betting on down Friday

corrections in

cross-dressing

cyclical

dying with a whimper

following bear markets

media disbelief

normal course of

peak

TGH and

“wall of worry” and

Bull run (1990s)

Burn rate

Burns, Arthur

Bush, George

Bush, George W.

BusinessWeek

“The New Economy”

Buy-out targets

Callan Associates

Campbell, John Y.:

study

Canada

Capital gain(s):

avoiding

distributions

Capitalism:

in America

debt and

faith in

gold and

government activity and

love of

mercantilism and

property rights and

stock categories and

Capital losses

Capital markets:

bell curves and

conditioning and

fear of change

long-term forecasting and

technology (see Capital markets technology)

transformationalism and

workings of

Capital markets technology:

Benchmarking (see Global benchmarking)

creating

finding earnings

forecasting with accuracy

generally

history as research lab

innovation and

Price-to-sales ratios

Capital preservation

CAPM

Carnegie, Andrew

Carry trade

Carter, Jimmy

Cash:

benchmark risk and

holding onto

market direction and

portfolio, bear markets

Cash-based acquisitions

Cash-based merger manias

Cash-based takeovers

Cash flow:

benchmark selection and

as investing goal

Caterpillar

Cato the Elder

Causes of bear market:

generally

Hurricane Katrina and

terrorism and

CBOE. See Chicago Board Options Exchange (CBOE)

CDs. See Certificates of deposit (CDs)

Central banking system:

currency demand and

currency supply and

monetary mismanagement

quality of job of

speculators and

Central banking system

of US (see Federal Reserve System)

Certificates of deposit (CDs)

“Charting”

Cherkasky, Michael

Chicago Board Options Exchange (CBOE)

China:

boom in

oil and

Chinese yuan

Cleveland, Grover

Client base

Clinton, Bill

Cognitive errors:

common

investing errors and

overconfidence (see Overconfidence)

relative thinking and

Colorado, energy supply

Concentrated portfolios

Conference Board

Confirmation bias:

definition

favorite category

illusion of validity and

January effect and

regret shunning and

Consensus bell curve

Consistency

Consumer buying habits

Consumer confidence

Consumer Price Index (CPI)

Contrarian:

bell curves and

media buzz and

Control rules

Core strategy, counterstrategy (contrast)

Corporate earnings

Corporate role models

Corrections:

of 1998

bear markets and

bull markets and

Correlation coefficient

Counterstrategy, core strategy (contrast)

Countries:

sectors and, index weights

weighting

Covered calls

CPI. See Consumer Price Index (CPI)

CP Ships

Credit card companies

Credit crisis of 2008

Cross of Gold speech

Currencies:

demand and

determinations and

exchange rates (see Exchange rates)

global yield curves

gold standard

prices of (see Currency prices)

real driver of

supply of

Currency prices:

drivers of currency demand

generally

global yield curves

CXO Advisory Group

Cyclicals

Data:

mining

research and

sources

DAX index

DCA. See Dollar-cost averaging (DCA)

Debt:

big, history of

Dow and

good

more, bad or good

“multiplier” effect and

new offering

repayment

return on assets and

“right” amount of

society, right amount for

Debt-to-equity level

Debunkery (Fisher)

Defensive portfolio

Deficit:

federal (see Federal budget deficits)

Latin root of

Defined benefit pension plans

Dell, Michael

Demand. See Supply and demand

Depressions

Derivative theory

Dilutive to earnings

Discounters

Dissenting analysis/opinion

Diversification:

magic of

opportunity cost and

overconfidence and

stock picking and

Dividend(s):

homegrown

yields

Divisor adjustment

DJIA. See Dow Jones Industrial Average (DJIA)

Dollar:

propping

strength of (see US dollar strength)

Dollar-cost averaging (DCA)

Doomsday predictions

Dot-com. See Tech bubble

Dow Jones Industrial Average (DJIA):

as misleading index

never using

“Down”/“laggard” stocks

Downside

Drivers. See Stock demand drivers

Drug stocks, tech stocks (contrast)

EAFE. See Europe, Australia, Far East (EAFE) Index

Eagerness

Earnings:

accretive to

dilutive to

finding

Earnings yield (E/P)

Economics:

causality and

curriculum/instruction

debt and

global yield curve and

of leverage

traditional notions of

Economic drivers

Edison, Thomas

Eighteen-month rule

Einstein, Albert

Eisenhower, Dwight D.

Elastic demand

Elections

Electoral College, winning

Emerging markets

Emotion. See also Psychology

for demand for equities

as driver of stock demand

eagerness and

investor sentiment

pride (see Pride)

regret (see Regret)

worrying

Endowments:

biggest in history

management of

Energy. See also Oil

bubble

dependency

sector

stocks

Enron:

401(k)

accounting fraud

tragedy of

Environmentalists/environmentalism:

global warming and

nuclear power and

popular/contemporary

E/P. See Earnings yield

Equities:

bell curves for

demand for

exposure to

moving away from

percentage in

“re-equitizing”

Equity-based (dilutive) mergers

Equity-based takeovers

Equity indexes:

broad

equity return and

Run Strength Indicator and

websites

Equity-like growth

Equity-like returns

Error rate

ETF. See Exchange-traded fund (ETF)

Europe, Australia, Far East (EAFE) Index

European stocks

Euros

Eurozone

Excel:

correlation coefficient and

spreadsheet

Excess returns

Exchange rates:

budget deficits and

carry trades and

relative meaning of

US dollar and

Exchange-traded fund (ETF)

Expected returns

Experts, so-called

Exxon/ExxonMobil

Fads, avoidance of

Fair-value accounting

Falsehoods:

false mythologies

identification of

FAS 157–“fair value” accounting

Fastow, Andrew

Federal budget deficits:

fear about

market and

myth

stock returns and

unchecked

Federal Express

Federal Open Market Committee (FOMC):

meetings

Federal Reserve System

Finance:

standard

study of

Finance theory:

craftsmanship and

diversification and

market bets and

Financial Accounting Standards Board rule 157 (FAS 157)

Financial firm weakness

Financial planners

Financial Services Authority (FSA)

Fisher, Arthur L.

Fisher, Isaac

Fisher, Philip Isaac

Fisher Investments On series

Fitch rating agency

Five percent rule

Float

Flowserve (FLS)

FLS. See Flowserve (FLS)

FOMC. See Federal Open Market Committee (FOMC)

Forbes:

forecasts

list of richest Americans

stock picks

Forbes column:

“1980 Revisited”

April 18

“Bullish for ’99”

on Flowserve (FLS)

“Greater Fools”

“I Hate Funds”

of January 26, 2011

by Joe Goodman

July 6, 1998 column

on M&A

“Never Say Dow”

“Portfolio Strategy”

three purposes for

Ford, Gerald

Ford, Henry

Forecasting:

with accuracy

annual market surveys

bell curves and (see Bell curve)

industry analysts and

January and

market direction and

Foreign investing

Foreign markets

Foreign policy

Foundations

Four rules that count:

benchmark analysis

benchmark selection (see Benchmark selection)

generally

okay to be wrong

securities, blending

Framing

Franchises, purchase

Free markets

French, the

Friedman, Milton

Front-running

FSA. See Financial Services Authority (FSA)

FTSE index

Funds. See Mutual funds

Galileo Galilei

Gameable bets

Gasoline:

prices

pump, quiz

Gates, Bill

GDP. See Gross domestic product (GDP)

GE. See General Electric (GE)

General Electric (GE)

correlation coefficient and

stock

Genius, examination

Germany:

columns in

economy of

mercantilism and

trade balances of

Weimar years

GlaxoSmithKline

Global banks

Global bear market

Global benchmarking:

beating the market

benchmark as roadmap

Dow and

global thinking/better thinking

greatest risk

indexes and

never maximizing return

risk vs. return

thinking better and

two-stock index

Global growth. See Global yield curves

Global long bonds

Global no-load funds

Global stock returns. See also Returns

Global thinking

Global warming

Global yield curves

Goldman Sachs

Gold standard:

gold hedge belief

inflation and

new

Wizard of Oz/Oz of gold

Goodman, Joe

Gore, Al

Government:

core strategy, counterstrategy (contrast)

forestry service job

operation of

restrictions

spending

Graham, Ben

Great Depression

“Greater Fools” (Fisher)

Great Humiliator. See “The Great Humiliator” (TGH)

Great Influenza, The (Barry)

Green, Hetty

Greenberg, Hank

Greenberg, Jeff

Greenspan, Alan

Gross, Bill

Gross domestic product (GDP):

budget deficits and

composition of

as economic driver

global

natural disasters and

net public federal and

thinking relatively

trade balances as percent of

unemployment and

in US

Groupthink

Growth:

aggressive

equity-like

global (see Global yield curves)

or income, strategy and

risk and

volatility and

Growth and Welfare in America’s Past (North)

Halliburton

Hambrecht & Quist

Hanna, Marcus Alonzo

Harrison, Benjamin

Hawking, Stephen

Health care sector

Health scares

Heat chasing/benchmark shifting

Hedge funds

Herd mentality

Hindsight bias

Hippocrates

History:

events in

as research lab

Homework

Hoover, Herbert

Hot sector

How the Mind Works (Pinker)

How to Lie With Statistics (Huff)

How to Smell a Rat (Fisher)

Huff, Darrell

Hurricane Katrina

Hybrid deals, mergers and acquisitions

Hyperinflation

“I Hate Funds” (Fisher)

Illiquid assets

Illusion of validity

IMF. See International Monetary Fund (IMF)

Income:

absolute

cash flow as

growth and/or

national

or growth, strategy and

total (see Gross domestic product (GDP))

Indexes:

price-weighted

shorting

two-stock

volatility, returns and

well-constructed

Index funds:

benchmarking and

disadvantages of

stock selection and

Index puts

India

Individual peculiarity, determinant

Individual retirement account (IRA)

Industrial Revolution

Inelastic demand

Inflation:

in 1970s

American

global level of

gold as indicator of

hyperinflation

long-term rates and

runaway

what it is/isn’t

Inflation risk

Initial public offering (IPO):

in 1980

“hot sector” euphoria

overconfidence and

shares issued

Tech IPO craze (see also Tech bubble)

yield curve and

Innovation:

capital markets and

ongoing

for yourself

Insider trading

Institutional investors

Intel

Interest rates:

global

long-term

short vs. long bond

International Monetary Fund (IMF)

Internet

Internet:

burn rates

stocks (see also Tech bubble)

web sites (see Web sites)

Investing:

not a craft

technical

Investment Analysis and Portfolio Management (Reilly)

Investment banker:

demand for category

new stock/debt offering and

Investment finance. See Finance

Investment goal categories:

capital preservation

cash flow

maximizing terminal value

Investment managers

Investment strategy. See Strategy

Investor demand. See Stock demand drivers

Investor sentiment. See also Sentiment

“Investor Sentiment” (paper)

Investors’ Intelligence data

IPO. See Initial public offering (IPO)

iPod. See Apple/iPods

IRA. See Individual retirement account (IRA)

Iran-Iraq war

Isaac, William

January effect:

plot outcomes

reframing and

selling in May and

January forecast barrage

January ineffect

Japan:

bubble in

deflation in

economy of

indexes and

March 2011 Tohoku earthquake

mercantilism and

trade balances of

Japanese stocks

JLG Industries

Johns Hopkins School of Medicine

Joy Global, Inc.

JP Morgan

Kennedy, John F.

Kenneth L. Fisher Chair in Redwood Forest Ecology

Knowing something others don’t

Kroll

Large-cap. See Big-cap stocks

Latin

Lay, Kenneth

Lehman Brothers

Lincoln, Abraham

Liquidity:

bear markets and

market (see Float)

short-term

yield curve and

Loans. See also Borrowing costs

“multiplier” effects and

profit from

short rate and

“Locking in profits”

London bombing, stock market recovery

Long rate

Long-term debt

Long-term goals

Long-term growth/returns:

bear markets and

equity-like

Long-term interest rates

Long-term market average

Long-term mechanical forecasting

Loss aversion:

buy high/sell low

market direction and

myopic (see Myopic loss aversion)

sectors and

Louisiana

Lump-sum investments

Lynch, Peter

M&A. See Mergers and acquisitions (M&A)

Madoff, Bernard

Madrid bombing, stock market recovery

Margin

Market(s). See also “The Great Humiliator” (TGH)

bear (see Bear market(s))

beating the

bottoming

capital (see Capital markets)

condition, determining

corrections

direction

as discounter

emerging

financial

foreign

free

meltdown of

more positive than negative

as predictable

as psychological (see Psychology)

returns (see Returns)

scenarios/conditions

surprises and

top-performing

uncertainty

Market capitalization:

global markets and

indexes and

weighted average

Market-like returns

Market neutral position

Market risk aversion

Markets Never Forget (Fisher)

Marsh & McLennan (MMC)

Martin, William McChesney, Jr.

Mason, George

Maximizing terminal value

MBNA

MCI

McKinley, William

Media:

bad news in

beliefs/disbeliefs

buzz

commentary

discounting

fear, panic and

ignoring

incorrectness

noise

oil prices and

political agendas and

sources

supply/demand shifts and

thinking relatively

usage

Mercantilism

Merck

Mergers and acquisitions (M&A):

cash, stock, or hybrid

merger mania

riding the wave

Merrill Lynch

Mexico

Michaels, Jim

Microeconomics

Microsoft

Middle East:

energy dependency and

popular uprisings in

Miller, Bill

Miller, G. William

MMC

Momentum investing

Monday effect

Monetary allegory

Monetary conditions

Moody’s rating agency

Moore, Gordon

Moore’s Law

Morgan Stanley Capital International. See MSCI World Index

Morningstar.com

MSCI ACWI

MSCI EAFE (Europe, Australia, Far East)

MSCI World Index:

as benchmark

countries included in

emerging markets and

globally oriented

portfolio managed against

weights, sectors/countries

“Multiplier” effect on loans

Munger, Charlie

Mutual funds:

disadvantages of

“I Hate Funds” column

inflows for stock

Myopic loss aversion

Mythological correlation:

generally

high P/Es tell you nothing

if not bad, can they be good

Mythologies. See also Beliefs

budget deficit/dollar falling

currency determinations and

days of week and

false

seasonal

“Sell in May”

weak dollar, stocks and

Nader, Ralph

Naked put

NASDAQ

National Bureau of Economic Research (NBER)

Natural disasters:

earthquake, San Francisco

Hurricane Katrina

March 2011 Tohoku earthquake

NBER. See National Bureau of Economic Research (NBER)

Negatively correlated securities

Negative years

“Never Say Dow” (Fisher)

“New Economy, The”

New gold standard. See Gold standard

New Orleans, Louisiana

News. See Media

“News You Can’t Use” column

Newton, Isaac

New York Stock Exchange (NYSE)

New York Times

NIKKEI index

NIMBYs

Nixon, Richard

No-load funds

Non-correlated securities

North, Douglas C.

Noyce, Robert

Nuclear power

Oakland, California

Obama, Barack

Off-balance sheet obligations

Oil:

in 1970s

bubble

demand

embargoes

exploration

fracking boom

gas-pump quiz

high price of

media and

prices

reframing, time lags and

vs. stocks

OPEC

Op-ed pages

Open market operations

Opportunity cost:

diversification and

excess

of holding on

lifelong

Option positions

Oracle

Order preference:

following correction

hindsight bias and

overall result and

O’Shaughnessy, James

Out-of-the-box thinking

Outperformance

Overconfidence:

benchmark risk and

concentrated portfolios and

down-a-little market and

of Enron employees

men vs. women

passivity and

sector weightings and

as Stone Age behavior

TGH and

trading too often and

Overnight rate

Overweight sectors. See under Sectors

Pandemic threat

Panic of 1893

Pattern recognition:

incorrect information and

repetition and

P/E. See Price-to-earnings ratio (P/E)

Pension plans

Perkins, Tony

“Perma-bears”

Perot, Ross

Pharmaceutical stocks

PhDs

Pinker, Steven

Political allegory

Political drivers. See also Elections

Pollsters

Ponzi schemes

Populist movement

Portfolio:

balanced

benchmark and

category’s effect in

checking/rebalancing

concentrated

defensive, building of

gold as ultimate hedge

progression, as whole

risk control and

stock picking and

“synthetic cash”

well-managed

Portfolio engineering funnel

“Portfolio Strategy” (Fisher)

Post-offering price

Presidential term cycles

Price movement patterns

Price-to-earnings ratio (P/E):

cash-based takeovers and

earnings reports and

E/P and

high vs. low

investment studies and

Price-to-sales ratio (PSR or P/S):

development of

earnings and

how to use

novelty/obsolescence of

Price-weighted indexes

Pride:

accumulation

shunning

Stone Age Code and

Procter & Gamble

Profit maximization

PSR. See Price-to-sales ratio (PSR or P/S)

Psychology. See also Emotion

behavioral

markets as psychological

Putnam mutual fund family

Question One:

common myths and

falsehoods

generally

mythological correlation (see Mythological correlation)

political myth

proving you’re right or wrong

seeing it differently (see Always look at it differently)

using question one

when you’re wrong. (see When you’re really, really wrong)

Question Two:

process of inquiry

Question Three:

behavioral psychology

preview of

Rating agencies

Reagan, Ronald

Rebalancing portfolio

Recency bias

Recession:

of 1980 and 1982

of 1990–1991

of 2007 to 2009

bear market and

definition

economic drivers and

global

predictor of

suppressed earnings and

“Re-equitizing”

Reframing

Regression analysis

Regret:

accumulation

embracing

shunning

Stone Age Code and

Reilly, Frank

Reissues

Relative return

Repeatability/repetition:

consistency and

pattern recognition and

pride and

Research

Retirement:

diversification and

dividend income

dollar-cost averaging

growth for support of

Return on assets (ROA)

Returns:

absolute

asset allocation and

on assets (see Return on assets)

average/normal

benchmark and

Dow and (see Dow Jones Industrial Average (DJIA))

equity-like

excess

expectation, benchmark and

first-year, following bear market

following bear markets

historical events and

market-like

negative

never maximizing

P/E and

relative

vs. risk

securities, blending

standard deviation/variance of

total

volatility and

Reverse-correlated positions

Ripple effect

Risk:

benchmark (see Benchmark risk)

control

greatest

growth and

inflation

P/E and

vs. return

securities, blending

systemic

tolerance of

ROA. See Return on assets

Rockefeller, John

Rockefeller University

Rockoff, Hugh

Roosevelt, Theodore

Rosenwald, Julius

Rozeff, Michael

R-squared:

five-year rolling

regression analysis and

risk/expected return and

Rules:

capable people and

eighteen-month rule

five percent rule

four that count (see Four rules that count)

rules, basic

seventy-thirty rule

two percent rule

“Two-Thirds, One-Third Rule”

Runaway inflation

Run Strength Indicator

Russell 2000 index

Russian ruble crisis

S&P 500:

average monthly total returns

average/normal returns

energy companies and

flat 2000 forecast

investing and

large-cap

portfolio managed against

price of gold and

sector bubbles/weights

stocks vs. funds and

San Francisco fire (1906), impact

Santa Claus rally

Sarbanes-Oxley legislation

SARS health scare

Saudi Arabia

Savings accounts

Scalability

Schwab, Charles

Schwarzenegger, Arnold

Scientist, thinking like

Sears, Roebuck and Co.

Seasonal myths

SEC

Sectors:

benchmark and

bubble bursting

energy

hot

overconfidence and

overweighting/underweighting

same, similar performance

short-term negative correlation

Tech (see Tech sector)

Securities:

blending non- or negatively correlated

supply and demand

types of

Securities and Exchange Commission (SEC):

10-Q filing

filing with

Selling stock:

bad news and

fundamental change and

generally

lock and load

in May/January effect

sympathy selling

when to sell

“Sell in May, go away”

Senseless Panic (Isaac)

Sentiment:

defensive posture and

fatigue (see Run Strength Indicator)

investor

testing

Sentiment-based bell curve forecasting

September 11, 2001 terrorist attacks

Seventy-thirty rule

Sharpe ratios

Shiller, Robert J.:

study

Short rate, definition

Sillett, Stephen

Silver movement

Skilling, Jeffrey

Small-cap stocks:

vs. big-cap

industrial machinery

investors in

value and

Smith, Adam

Software

“So-goes” crowd

Soros, George

“Speculators”

Spitzer, Eliot

Standard & Poor’s rating agency

Standard deviation of returns

Standard finance

Stanford Ponzi scandals

Statman, Meir

Stein, Gertrude:

investment life lessons

“There is no there, there”

vision of

Stock(s):

big-cap (see Big-cap stocks)

blue chip

vs. bonds

budget deficits and

demand drivers (see Stock demand drivers)

“down”/“laggard”

holding onto/”break-even”

market direction and

new offering

no more than willing to lose

“not serially correlated”

offerings, new

vs. oil

oil prices and

or bonds

owning too few

percentage of, ownership

picking (see Stock picking)

proportion to hold

returns (see Returns)

selling (see Selling stock)

small-cap (see Small-cap stocks)

styles of

takeovers transacted in

US multinational

weak dollar and

what makes prices move

Stockbrokers

Stock buy-backs

Stock collectors

Stock demand drivers:

economic drivers

generally

investor sentiment

political drivers

portfolio engineering funnel and

Stock picking:

categories and

diversification and

Flowserve (FLS)

Forbes picks

performance and

portfolio engineering funnel

portfolio performance and

Stock prices:

supply, demand and

supply and

Stone Age:

behavioralists and

brains

overconfidence and

Stop losses

Strategy:

core, counterstrategy (contrast)

generally

goals (see Investment goal categories)

rules (see Four rules that count; Rules)

Strauss, Levi

Subasset allocation

Substitution

Super Stocks (Fisher)

Supply and demand:

currency prices and (see Currency prices)

eagerness and

elastic/inelastic demand

how supply works

media and

merger mania and

securities and

shifts in

stock pricing and

Sympathy selling

“Synthetic cash” portfolio

Takeovers:

backfiring

cash-based

transacted in stock

Taxable distributions

Tax code

Tax cuts:

budget deficits and

politicians and

Tech:

boom in

getting out of

stocks (see Tech stocks)

Tech bubble:

“1980 Revisited” column

and bear market call

benchmark risk and

implosion/market drop

scapegoats for

Tech names and

Technical analysis

Technical investing

Tech sector:

bubble (see Tech bubble)

market crash

supply and

Tech stocks, drug stocks, contrast

Ten Roads to Riches, The (Fisher)

Terminal value

Terrorism. See also September 11, 2001 terrorist attacks

Testing:

continued

sentiment

TGH. See “The Great Humiliator” (TGH)

“The Great Humiliator” (TGH):

bear market and

favorite tricks of

market as

as YOH in UK

The Mild Humiliator (TMH)

“There is no there, there”

The Softer, Gentler and Kinder Trickster (TSGKT)

Thinking. See also Cognitive errors

better

globally

relatively

Three Questions. See also specific question

application of

Time horizon

Time lags

“Time the market”

TMH. See The Mild Humiliator (TMH)

Total return

Trade balances

Trade deficits:

mercantilism and

never “paid back”

scalability and

trade balances and

UK and

US/developed foreign markets

Trading Places (movie)

Transaction fees:

going to cash

huge

increased trading and

making living from

Transformation

Transformational evolution

Transformationalism

Treasury bonds

Triple witching

Truths:

about P/Es

challenging

TSGKT. See The Softer, Gentler and Kinder Trickster (TSGKT)

TUI AG

Two percent rule

Two-stock index

“Two-Thirds, One-Third Rule”

UK. See also Britain

budget deficits and

debt, history of

economy of

Uncertainty, markets and

Underperformance

Underweight sectors. See under Sectors

Unemployment number

Unfathomable, fathoming

United States (US). See also America

10-year treasury yield

average/normal returns

bear market

dollar strength (see US dollar strength)

federal budget deficit

government bonds

hard asset balance sheet

multinational stocks

University at Buffalo (SUNY)

Unthinkable, the

US. See United States (US)

US dollar strength:

budget deficit myth

currency determinations and

generally

weak dollar, stocks and

USS Cole attack, stock market recovery

Validity, illusion of

Value, maximizing terminal

Value investor

Variance of returns

V-bottom

Velocity, definition

VIX (S&P 500 volatility index)

Volatility. See also VIX (S&P 500 volatility index)

diversification and

growth with no

market-like

normal

returns and

short-term

Volker, Paul

“Wall of worry”

Wall Street Journal (WSJ)

Wall Street Waltz, The (Fisher)

Walton, Sam

W-bottom

Wealth:

budget deficits and

protection of

redistribution

Wealth of Nations, The (Smith)

Web sites:

bloggers

for research

“Weekend effect”

Weighted average market capitalization

Welch, Jack

Welch, William

What Works on Wall Street (O’Shaughnessy)

When you’re really, really wrong:

federal budget deficit myth

generally

it’s all relative

killing the bloodsuckers

other deficits and

question everything you know

Whitehead, John

Wholesale price index

Witching effect

Wizard of Oz

Wonderful World of Oz, The (Baum)

WorldCom, scandal

World Index. See MSCI World Index

World Wide Web. See also Web sites

Worrying

“Wrong call”

WSJ. See Wall Street Journal (WSJ)

Xenophobes, benchmarking and

Y2K scare

Y2K scare:

“Greater Fools” column

July 6, 1998 column on

Yield curve:

America’s

changes in

global

inverted

value, growth and