Why intelligent people fell for Bernie Madoff’s Ponzi scheme

The Ponzi scheme run by Bernard Madoff may have cost his investors some $50 billion. For many, the big question is how could seemingly sophisticated investors be so stupid? Even more important, what lessons ...

Those who try to time the stock market get nipped by black swans

Investors suffering during major bear markets are tempted to “time” the market: to sell and avoid the downturn, and then reinvest before the inevitable recovery. It now seems obvious to these ...

If the experts cannot predict the markets, you can’t either

Were you able to predict the global bear market that sucked trillions of dollars out of investors’ pockets in late 2008? In retrospect, it looks like it should have been easy to predict—after ...