Adam Grossman Journalist Profile

Articles

Eyes Forward - HumbleDollar

1 week ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanAT THE 2016 SUMMER Olympics in Rio de Janeiro, South Africa’s Chad Le Clos challenged Michael Phelps for the gold medal in the 200-meter butterfly. A famous image emerged from that event: Throughout the semifinal, Le Clos repeatedly looked over at Phelps as he struggled to keep up. Meanwhile, Phelps just kept looking forward. The result: Phelps ultimately won the gold, while Le Clos trailed in fourth place.
Good in Theory - HumbleDollar

2 weeks ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanSTATISTICIAN GEORGE E.P. Box once made this observation: “All models are wrong,” he said, “but some are useful.” This certainly applies to finance, where many of the concepts are imperfect but can nonetheless still be useful. Below are four such examples. Market valuation. Are stocks overpriced? It’s a question without an easy answer. Even academics who have studied the topic can never be entirely sure. Consider the cyclically adjusted price-earnings (CAPE) ratio.
You Never Know - HumbleDollar

3 weeks ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanLAST WEEK, I MENTIONED the 17th century Dutch tulip bubble. There’s a lot we can learn from history. Current events, however, can teach us just as much. Below are three valuable lessons I see in today’s market. Myopia. Open any finance textbook, and you’ll find that most of its ideas are built on the notion of “present value.” This simply means an investment should be worth the sum of its future cash flows.
Up Because It's Up

4 weeks ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanBITCOIN HIT A NEW high last week, topping $112,000. Over the past 12 months, it’s climbed an impressive 55%. What’s driving this gain, and what should you make of it? I believe there are three key factors. Two are new. One is not. The first factor was a policy change last year. The federal government approved the launch of new exchange-traded funds (ETFs) that offer easier and more direct access to bitcoin. Following this rule change, 11 new bitcoin ETFs were launched in quick succession.
Feeling Moody - HumbleDollar

1 month ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanIF THE NAME LIZ TRUSS sounds vaguely familiar, there’s a reason: Truss was once the prime minister of the U.K.—but for just 45 days. How did Truss lose public confidence so quickly? The bond market forced her out. Shortly after taking office in the fall of 2022, Truss proposed substantial tax cuts for both corporations and individuals. That would have been a popular move, except that her budget didn’t include any offsetting spending cuts.
Lessons for Life

1 month ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanWHEN HUMBLEDOLLAR’S editor was The Wall Street Journal’s longtime personal-finance columnist and his children were little, he often joked that he had a special incentive to see them succeed financially. “It would be a tad embarrassing,” Jonathan wrote, if his children “grew up to be financial ne’er-do-wells.” For that reason, he used his own home as a laboratory of sorts, testing strategies to help set his children on the right financial path.
Go for the Gold?

1 month ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanIT’S BEEN QUITE A YEAR for gold investors. While the stock market has struggled, gold hit a new all-time high, topping $3,500 per ounce just a few weeks ago. Year-to-date, gold has gained nearly 30%, while the S&P 500 is in negative territory. This has certainly grabbed people’s attention—but does gold make sense for your portfolio? To answer this question, let’s start by looking at the arguments favoring gold.
Suffering in Private

1 month ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanABOUT 10 YEARS AGO, Steve Edmundson, manager of the Nevada state pension, became a folk hero in the investment world when The Wall Street Journal profiled him in an article titled, “What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing.”It was an exaggeration to say he did “nothing,” but Edmundson definitely did things differently. Since the 1980s, the trend among pension and endowment managers had been to follow in the footsteps of Yale University’s David Swensen.
No Exception - HumbleDollar

2 months ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanFRENCH HISTORIAN Alexis de Tocqueville toured the U.S. in the 1830s and chronicled his observations in a book titled Democracy in America. What mainly impressed him was Americans’ focus on trade and commerce.
School Is In - HumbleDollar

2 months ago | humbledollar.com | Adam Grossman |Jonathan Clements

Adam M. GrossmanIT’S BEEN AN UNUSUAL year—to say the least—for investment markets. After rising earlier in the year, U.S. stocks and bonds have dropped in recent weeks. Market leaders like Apple and Nvidia have been among the hardest hit. The U.S. dollar has also dropped, helping boost the value of international shares, and gold has continued to hit new all-time highs, despite inflation cooling. What can we learn from all this? I see seven lessons. 1. There are no guarantees.