All Posts By

Jared Korver

How to Time the Market

By | The Friday Brief | One Comment

Jesse Livermore was a stock trader who made his fortune during the 1929 stock market crash, in which he heavily shorted U.S. stocks and then began to buy them up near market lows. On the worst day of the crash, October 29, 1929, Livermore is said to have made the equivalent of $3 billion in one day of trading. Since then (since time immemorial, really), this notion of trading stocks based on the ever cyclical nature of the economy at large and the stock market in particular–commonly referred to as “timing the market”–has long since captured the imaginations–and fortunes!–of many an

Read More

Thanks for Nothing, Headlines

By | The Friday Brief | No Comments

We will celebrate Thanksgiving in less than a week, on the 22nd of November (which is, incidentally, the earliest possible date we could celebrate Thanksgiving). You know how it goes when these early ones come around–we are all getting “snuck up on” and “caught off guard” by the suddenness of Thanksgiving. And this year, perhaps, in the midst of a vicious socio-political atmosphere, faced with dystopian landscapes of a burning California, dealing with our first dose of hard markets in years–maybe we find it difficult to engage the idea of thankfulness in any meaningful way. Indeed, the front-page headlines of

Read More

Good money, Bad money

By | The Friday Brief | No Comments

When my son Charlie came home from the NICU in February and was going to doctors appointments with some frequency, one of the things that came up was that he, like many newborns, had a case of torticollis. Torticollis is basically the tendency for a baby’s head to lean one way and an associated difficulty for them to lean it the other way on their own. It’s not serious if you do some pretty straightforward physical therapy, which simply involves stretching the baby’s neck muscles and retraining them to work in a more symmetrical way. On the other hand, if

Read More

Disaster Relief? A Call To Action.

By | The Friday Brief | One Comment

What an odd phrase, if you think about it: Disaster Relief. You can get relief from an itchy bug bite, or from a golf ball on a cart path, or even relief of certain types of debt. But relief from a disaster? It’s oddly inadequate to consider relief in those terms, especially when confronted with the images I’m sure you’ve all seen of towns like Wilmington and New Bern and Lumberton and Fayetteville and all the rest under several feet of water as a result of almost three feet of rain at the hands of Hurricane Florence. I don’t have

Read More

In Defense of a Working Retirement

By | The Friday Brief | 2 Comments

On Sunday, this “news” came out that Geoffrey Owens–an actor who had a recurring role on The Cosby Show–was spotted working at a Trader Joe’s somewhere in New Jersey, and then shamed for it. The sentiment seems to have been something like, “Poor Geoffrey. If only his former fame had produced a more lasting fortune and the associated work exemption that would make him a happier man by any objective standard…” And on Monday we celebrated Labor Day, a holiday which has its origin in the labor movements of the late 19th century (the first Labor Day was a strike!), when workers–many of whom were

Read More

FOMO and Facebook: Why Diversification Matters

By | The Friday Brief | No Comments

A couple of interesting things happened this week that led to this blog, but before I get to them, I want to start elsewhere. I did a very bad thing before I sat down to write this, which was to get on Redfin and look at homes for sale in our neighborhood. After about two minutes of perusing the listings I stumbled upon this one, which can most accurately be described as The Home of My Dreams, and also, Not Particularly Close to Affordable for me and my family. And do you know something? Seeing that–that the home I would

Read More

401k Bombs and the Fall of GE

By | The Friday Brief | No Comments

In Barbarians at the Gate, a thrilling tale of the buyout of RJR Nabisco in the late 80s, there is an account of the development of a smokeless cigarette product called Premier that, while being ahead of its time in some respects, was also a complete disaster. From the very first test groups of people trying these “cigarettes,” no one ever liked the taste or smoking experience of Premiers, and yet, largely due to the blind optimism of RJR Nabisco’s CEO Ross Johnson, the company continued to push the product all the way to market, where it landed with about

Read More

3 Ways To Fail As An Investor

By | The Friday Brief | No Comments

Charlie Munger, Warren Buffet’s famed right-hand man at Berkshire Hathaway, is fond of using the phrase, “Invert, always invert.” While Munger is often credited with the origination of the quote, he is borrowing from 19th century German mathematician Carl Jacobi, who coined the phrase as a means to capture how he felt many difficult math problems were best handled: by turning them on their head and working backwards toward a solution. One way that you can apply this inversion technique is by looking at an outcome which is the opposite of what you want, and then figuring out what steps

Read More

The Market Has a Stomach Bug

By | The Friday Brief | No Comments

If I may quote a bit of Dickens, “Stocks are down: to begin with. There is no doubt whatever about that.” After such a pleasant (if not completely paranoia-free) 2017 in the markets, 2018 has been a bit more…markety. We had a rough patch in early February where we saw stocks give up double digits before climbing back up a touch, and here we are again this week, with the S&P 500 down 4.5% and the Dow down 5% and retaking its low close on February 9. Ascribing a narrative to market movements is surprisingly easy, but also impossible. At

Read More

Financial Resolutions & Habits: Part 3

By | The Friday Brief | No Comments

We’re still digging out of our snow here in Raleigh, and in a way I imagine many parents and kids will feel Monday is a bit like the first day of school all over again. When everything shuts down so completely it’s hard not to feel like it’s a reset of the new semester and the new year. So it’s apropos, I think, that we are concluding our series on Financial Resolutions & Habits, because there’s no better time to consider some of these recommendations than at a reset. Today I’m going to cover three actionable topics that I believe

Read More