Indexopedia Glidepath
2026 Market Reflections
events
Investing Through War: Why History Rewards Discipline Over Fear
When headlines turn dark and geopolitical tensions erupt into open conflict, financial markets often react with immediate volatility. Prices swing sharply. Commentators warn of worst-case scenarios. Investors feel the deeply human pull...
insight
Investor Fatigue – How to Avoid It
In the spring of 2026, the financial headlines read like a nonstop emergency broadcast. War in the Middle East. Oil prices surging. Tariff wars rattling supply chains. AI stocks swinging wildly on...
behavior
Learning to Invest in What Nobody is Buying – Small Cap Value
Small Cap Value — and the Discipline to Own What the Crowd Won't For more than a decade, the market's attention has been captured by a small group of large-cap growth companies...
2025 Market Reflections
events
2025 Market Commentary
A Year Defined by Policy Risk and Market Adjustment Investors entered 2025 expecting a year of consolidation after several periods of dramatic market repricing. Inflation had moderated, interest rates were stabilizing, and...
insight
Chasing Gold
Every few years, a particular asset captures investors' imagination. Lately, that asset has been gold. Over the past two years, its performance has been strong — more than doubling in price. Naturally,...
behavior
Investor Behavior 2025
The Year Markets Tested Discipline (Again) If you felt like 2025 delivered more "whiplash" than most years, you're not imagining it. Investors entered the year expecting something closer to a normal "grind...
2024 Market Reflections
events
2024 Market Commentary
A Year of Normalization After Prolonged Adjustment After several years marked by extraordinary policy shifts and market volatility, investors entered 2024 with a more grounded set of expectations. Inflation had eased meaningfully...
insight
The Average Returns Lie (Part C)
Oftentimes investors spend substantial time and energy evaluating the returns of their portfolio, comparing those results to some popular market benchmark like the S&P 500. However, there are serious considerations that must...
behavior
Investor Behavior 2024
When Markets Calmed Down, Emotions Didn't After several years defined by extremes, 2024 felt—on the surface—almost ordinary. Inflation moderated, interest rates stabilized near their peak, recession fears faded, and markets produced solid...
2023 Market Reflections
events
2023 Market Commentary
A Year That Defied Expectations After one of the most challenging years for diversified portfolios in decades, investors entered 2023 with unusually low expectations. Inflation remained well above long-term targets, interest rates...
insight
How Can I Develop Good Investment Behavior?
There are three aspects of investing that contribute to investor results. First, you must save. Saving over time helps build financial success. Second, spread risk across asset classes. Third, maintain good investment...
behavior
Investor Behavior 2023
Why Headlines Are a Poor Investment Strategy If you listened to the media at the start of 2023, you would have believed investors were standing on the edge of a cliff. Recession...
2022 Market Reflections
events
2022 Market Commentary
After two years defined by extraordinary policy support and strong market returns, 2022 marked a sharp turning point for investors. Entering the year, inflation pressures that had emerged in 2021 were proving...
insight
Proof that Market Timing Doesn’t Work!
Trying to time the stock market is like trying to catch lightning in a bottle - tempting, but statistically doomed to fail. While the concept of "buy low, sell high" seems intuitive,...
behavior
Investor Behavior in 2022
When "Doing Something" Felt Safer Than Doing the Right Thing If 2020 was the year of panic, and 2021 was the year of euphoria, then 2022 was the year that tested discipline....
2021 Market Reflections
events
2021 Market Commentary
Following the extraordinary volatility of 2020, investors entered 2021 with cautious optimism. Vaccines were being distributed, economies were reopening, and unprecedented monetary and fiscal support remained firmly in place. While uncertainty persisted,...
insight
The Elephant in the Room: Why Bonds are Still a Good Investment Even When the Stock Market is Rallying
In the midst of a strong stock market rally, it's not uncommon for investors to have a mix of enthusiasm and even more concern. "Why haven't I done as well as the...
behavior
Investor Behavior in 2021
The Year Confidence Came Back—and Discipline Got Tested After the chaos of 2020, 2021 felt like a deep exhale. The economy reopened, and investors watched markets climb with far less drama than...
2020 Market Reflections
events
2020 Market Commentary
Entering 2020, markets were supported by steady economic growth, low inflation, and accommodative central bank policy. Few could have predicted that a global pandemic would abruptly reshape the economic landscape, disrupt daily...
insight
Don’t Forget History
Fooled & Fueled All too often we remember what we need to forget and forget what we need to remember. History has proven investors have short-term memories. Hot sectors pop up and...
behavior
Investor Behavior 2020
2020: A Year That Exposed Investor Behavior Every market cycle tests investors, but 2020 put investor discipline to the test in a way few had experienced since the 1987 crash. It was...
2019 Market Reflections
events
2019 Market Commentary
A Year Defined by Policy Reversal, Trade Tensions, and a Powerful Market Recovery Following one of the most volatile and unsettling market environments in years, 2019 marked a dramatic reversal for investors....
insight
Proof that Market Timing Doesn’t Work!
Trying to time the stock market is like trying to catch lightning in a bottle - tempting, but statistically doomed to fail. While the concept of "buy low, sell high" seems intuitive,...
behavior
Investor Behavior in 2019
The Year Markets Rewarded Discipline and Punished "Headline Investing" If you only followed the headlines in 2019, you probably felt like you were investing in a blender. One month the story was...
2018 Market Reflections
events
2018 Market Commentary
A Year Marked by Policy Tightening, Volatility, and a Sharp Shift in Investor Confidence After several years of steady gains and subdued volatility, 2018 delivered a stark change in market conditions. Investors...
insight
Buying Through the Pain for Long-Term Benefits
Investing during volatility can feel like running toward a fire when everyone else is sprinting away. But counterintuitive as it may be, history shows that down markets tend to recover and reward...
behavior
Investor Behavior in 2018
When Pain Created Opportunity 2018 was a humbling year for investors. After nearly a decade of steadily rising markets, subdued volatility, and policy support, conditions changed abruptly. The year served as a...
2017 Market Reflections
events
2017 Market Commentary
A Year of Confidence, Calm, and Steady Market Progress In many ways, 2017 stands out as one of the calmest and most consistent market environments of the post-financial-crisis era. Investors entered the...
insight
Trifecta: Three Negative Influences on Investor Behavior
Investors face a myriad of challenges, but three primary influences can cloud judgment and derail a well-crafted strategy. This trifecta of negative influences--losing value in a down-market, media sensationalism, and the temptation...
behavior
Investor Behavior in 2017
When Calm Markets Create Risky Decisions In hindsight, 2017 stands out as one of the calmest years investors had experienced since the Global Financial Crisis. Markets moved steadily higher, volatility was unusually...
2016 Market Reflections
events
2016 Market Commentary
A Year of Political Shock, Market Resilience, and Shifting Expectations At first glance, 2016 appeared destined to be a difficult year for investors. Markets opened the year under pressure as concerns over...
insight
What are the 10 most common investor mistakes?
Investing can be both rewarding and challenging, especially when navigating complex markets. Many investors begin their journey with strong intentions and optimistic goals, only to fall short due to missteps that could...
behavior
Investor Behavior in 2016
When Fear Was Loud—and Discipline Was Quietly Rewarded At the start of 2016, many investors were convinced the market's long expansion was coming to an end. Global headlines were dominated by fears...
2015 Market Reflections
events
2015 Market Commentary
A Year of Transition, Volatility, and Uneven Market Outcomes After several years of strong and relatively steady gains, 2015 marked a meaningful shift in market behavior. Investors entered the year expecting continued...
insight
The Power of Diversification: How Different Asset Classes Complement Each Other in a Balanced Portfolio
Investing is often viewed as a balancing act, where the goal is to maximize returns while minimizing risk. However, the market is a dynamic place, and no single asset class consistently delivers...
behavior
Investor Behavior in 2015
When Patience Was Tested and Diversification Felt Broken After several years of strong equity returns, many investors entered 2015 expecting more of the same. The U.S. economy was expanding, unemployment was falling,...
2014 Market Reflections
events
2014 Market Commentary
A Year of Steady Progress Amid Growing Global Imbalances At first glance, 2014 appeared relatively calm compared with the dramatic market cycles that preceded and followed it. Equity markets advanced steadily, volatility...
insight
What should I do if I am worried about the market?
One of the biggest mistakes investors make is trying to time a down market. There are countless reasons why someone might be tempted to pull their money out or hesitate to invest....
behavior
Investor Behavior in 2014
When Calm Markets Tested Conviction At first glance, 2014 felt almost uneventful. After the trauma of the financial crisis, the European debt scare, and repeated policy shocks earlier in the decade, markets...
2013 Market Reflections
events
2013 Market Commentary
A Pivotal Year as Confidence Returned to Financial Markets In hindsight, 2013 stands out as a pivotal year for investors. While it did not carry the drama of the financial crisis or...
insight
Common Investment Mistakes Affluent Investors Should Avoid
Investors often start with the best intentions and high hopes for strong returns, yet many fall short of achieving their goals. From our experience, we've identified that the root causes typically fall...
behavior
Investor Behavior in 2013
Confidence Returns—But Old Habits Die Hard In hindsight, 2013 marked a psychological inflection point for investors. The financial crisis was no longer fresh, the economy was stabilizing, and markets began to reward...
2012 Market Reflections
events
2012 Market Commentary
A Year Dominated by Policy and Fragile Confidence 2012 was a year defined less by economic strength and more by policy intervention. While financial markets ultimately delivered solid returns, investor confidence remained...
insight
Understanding Timing Bias: Why When You Invest Matters
Investors understand that high quality companies are more likely to do better over the long-term compared to unhealthy ones. That's why Linden Thomas & Company set out to build a better index...
behavior
Investor Behavior in 2012
Relief Rallies, Policy Promises, and the Cost of Late Decisions In many ways, 2012 was not a year about strong economic growth—it was a year about avoiding disaster. Investors entered the year...
2011 Market Reflections
events
2011 Market Commentary
A Year Defined by Volatility, Policy Risk, and Shaken Confidence For investors, 2011 was a difficult and emotionally taxing year. Markets were dominated less by traditional economic fundamentals and more by political...
insight
How does FOMO negatively impact my investment results?
Fear and Greed are Not Your Friends Two powerful emotions--fear and greed--often dominate decision-making, causing investors to act irrationally. While financial markets are driven by data, fundamentals, and trends, human emotions frequently...
behavior
Investor Behavior in 2011
The Year the Headlines Tried to Trade Your Portfolio If you judged 2011 by the S&P 500's final number, you might conclude it was a quiet year. It wasn't. 2011 was one...
2010 Market Reflections
events
2010 Market Commentary
A Year of Recovery, Reinforced by Policy Support After the trauma of the global financial crisis, 2010 marked a year of cautious recovery for investors. While memories of 2008 and early 2009...
insight
When Memory Fails: How the Recency Effect Misleads Investors
The recency effect plays a subtle but powerful role in investment decision-making. In essence, people tend to place disproportionate importance on recent performance while discounting the long-term lessons the market has taught...
behavior
Investor Behavior in 2010
When Fresh Scars Shape Fresh Mistakes Coming out of the Global Financial Crisis, investors entered 2010 with fresh emotional scars. The collapse of 2008 and the violent rebound in 2009 were still...
2009 Market Reflections
events
2009 Market Commentary
A Turning Point After Crisis For investors, 2009 will be remembered as a year of dramatic reversal. After one of the most severe market declines in modern history, the year marked a...
insight
What Happens When Average Returns Flip?
Investors often rely on historical returns to assess the performance of individual stocks, sectors, or entire asset classes. However, focusing on average returns--whether for an individual asset or for an entire portfolio--can...
behavior
Investor Behavior in 2009
When Fear Was Highest—and Opportunity Was Closest If you lived through 2009 as an investor, you remember the feeling: the headlines weren't just "bad," they were existential. People weren't debating whether stocks...
2008 Market Reflections
events
2008 Market Commentary
A Year of Crisis and Systemic Breakdown For investors, 2008 was one of the most challenging years in modern financial history. What began as a weakening housing market evolved into a full-scale...
insight
The Dangers of Negative Compounding
Compounding is one of the most powerful tools in wealth building. By allowing returns to generate additional returns, it creates a snowball effect that can significantly enhance an investor's portfolio over time....
behavior
Investor Behavior in 2008
When Fear Felt Rational, and Timing Became Expensive If there is one year that reminds investors how quickly "normal" can become "unthinkable," it is 2008. What began as stress in U.S. housing...
2007 Market Reflections
events
2007 Market Commentary
A Year That Began Calmly and Ended in Crisis For much of 2007, markets appeared stable and resilient. Economic growth was slowing modestly, but corporate earnings remained strong, credit was widely available,...
insight
Risk of Overconcentration
Stocks are considered risk assets. Every stock can either move up in value, or down in value. Losing value is considered downside risk, and it is this risk that is of most...
behavior
Investor Behavior 2007
When Confidence, Concentration, and Complacency Collide 2007 is often remembered as the year before the crisis. But that framing misses the more important lesson. For most investors, 2007 didn't feel dangerous at...
2006 Market Reflections
events
2006 Market Commentary
A Year of Calm That Masked Growing Imbalances For investors, 2006 was a year marked by steady returns, low volatility, and broad confidence in the global economic outlook. Markets benefited from solid...
insight
The Importance of Rebalancing a Portfolio
There are many moving parts when it comes to building and maintaining an investment portfolio. One of the most important aspects is choosing the right securities to invest in. A second runner...
behavior
Investor Behavior 2006
Confidence, Complacency, and the Cost of Ignoring Rebalancing In hindsight, 2006 stands out as one of those deceptively calm years that often sow the seeds for future disappointment. Markets delivered solid returns,...
2005 Market Reflections
events
2005 Market Commentary
Steady Growth in a Supportive Market Environment For investors, 2005 was a year characterized by steady economic growth, supportive financial conditions, and generally constructive market performance. While returns were not dramatic, markets...
insight
What is the Yield Curve and what can it tell us about future economic growth, expected inflation, and the potential for a recession?
The yield curve is a graphical representation of interest rates for bonds of varying maturities at a specific point in time. Commonly associated with U.S. Treasury securities, the yield curve plots short-term,...
behavior
Investor Behavior in 2005
When Stability Breeds Complacency—and Signals Get Ignored For investors, 2005 was a year that felt deceptively comfortable. Markets moved higher, volatility remained subdued, and the economic backdrop appeared supportive. Unlike the sharp...
2004 Market Reflections
events
2004 Market Commentary
A Shift from Recovery to Expansion By 2004, financial markets were transitioning out of the post-recession recovery phase and into a more mature economic expansion. The U.S. economy entered the year with...
insight
The History of Markets
Markets are living, breathing organisms. They pulse with opportunity and risk, shaped by investor psychology, innovation, and, at times, sheer irrationality. As an investor, understanding market history isn't just an academic exercise...
behavior
Investor Behavior in 2004
When Recovery Fades and Discipline Is Tested By 2004, investors were no longer operating in the emotional fog of the early-2000s recession. Markets had already staged a powerful rebound in 2003, confidence...
2003 Market Reflections
events
2003 Market Commentary
From Bear Market to Turning Point After three difficult years marked by the bursting of the technology bubble, corporate scandals, and recession, 2003 became the year markets finally turned the corner. Investor...
insight
Trifecta: Three Negative Influences on Investor Behavior
Investors face a myriad of challenges, but three primary influences can cloud judgment and derail a well-crafted strategy. This trifecta of negative influences--losing value in a down-market, media sensationalism, and the temptation...
behavior
Investor Behavior in 2003
From Despair to Disbelief—and the Cost of Timing the Market Entering 2003, investors were exhausted. The market had endured three consecutive years of losses following the technology bubble, corporate accounting scandals, recession,...
2002 Market Reflections
events
2002 Market Commentary
A Year Defined by Eroding Trust If 2001 was dominated by shock and uncertainty, 2002 was defined by a profound loss of confidence. Investors entered the year hoping that the worst of...
insight
The Dangers of Negative Compounding
Compounding is one of the most powerful tools in wealth building. By allowing returns to generate additional returns, it creates a snowball effect that can significantly enhance an investor's portfolio over time....
behavior
Investor Behavior 2002
When Confidence Broke and Negative Compounding Took Hold If 2001 was defined by shock, 2002 was defined by something more corrosive: a collapse in trust. Investors entered the year hoping the worst...
2001 Market Reflections
events
2001 Market Commentary
A Fragile Start to the Year Entering 2001, markets were already under pressure following the collapse of the technology bubble in 2000. Valuations remained elevated in many growth-oriented sectors, corporate earnings expectations...
insight
How Do Recent Returns Impact Average Returns?
Portfolio returns can generally be divided into two categories: annual returns and average annual returns. While they may sound similar, average annual returns are often misunderstood by investors. This misunderstanding, combined with...
behavior
Investor Behavior 2001
When Recent Returns Overpowered Reason By the time 2001 began, investor psychology was already fragile. The technology bubble had burst the prior year, yet many investors entered January still anchored to the...
2000 Market Reflections
events
2000 Market Commentary
A Market Entering the Year at Extremes The year 2000 began with financial markets at a point of extraordinary optimism. The long bull market of the 1990s, fueled by falling interest rates,...
insight
The Power of Noise: Navigating Media-Induced Market Hysteria
In our hyper-connected era, media outlets wield significant influence over investor sentiment and market dynamics. Sensational headlines and 24/7 news cycles can amplify market events, leading to heightened emotions and, often, unwise...
behavior
Investor Behavior 2000
When Noise Replaced Fundamentals The year 2000 stands as one of the clearest examples of how noise, narrative, and short-term performance can overwhelm discipline. Markets entered the year priced for perfection, driven...