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Behaviour

The gap between what a portfolio returns and what its owner returns. Almost all of it comes from decisions made under pressure rather than from picking the wrong fund.

10 articles

Two people examining market charts on screen, representing scrutiny of an investment offer
StocksBehaviour

Can You Actually Invest in SpaceX? How Pre-IPO Access Really Works

The honest answer for most people is no, and the routes that do exist carry costs and restrictions that rarely appear in the pitch. What the real access routes are, and how the fraudulent ones are structured.

September 4, 2026 · 6 min read
The cycle of market emotions from optimism through despair and back
BehaviourBeginner Guide

The Behaviour Gap: Why Investors Earn Less Than Their Own Funds

Study after study finds investors underperform the funds they hold. The gap isn't caused by bad fund selection - it's caused by when people buy and sell. The biases, and the fixes.

July 29, 2026 · 5 min read
A falling market chart representing corrections and bear markets
MarketsBehaviour

Correction, Bear Market, Crash: What the Words Actually Mean

The financial press uses these terms interchangeably. They aren't. The precise definitions, how often each has happened, how long recoveries took, and why the vocabulary matters.

July 26, 2026 · 5 min read
Chart comparing interest rates against inflation over time
MarketsBehaviour

Inflation: What It Quietly Does to Savings, and What Has Actually Beaten It

Inflation is the loss that never appears on a statement. How to calculate what it costs you, why cash erodes slowly and permanently, and the historical record of which assets outpaced it.

July 15, 2026 · 5 min read
An employment data report, representing monthly payroll figures
MarketsBehaviour

Why Weak Employment Data Can Lift Stocks

A jobs report comes in far below expectations and the market goes up. That is not irrationality, it is arithmetic about discount rates, and knowing the chain explains a great deal of otherwise baffling market behaviour.

July 5, 2026 · 5 min read
Footballers celebrating, representing the commercial scale of a global tournament
MarketsBehaviour

How a World Cup Actually Moves Stocks: Rights, Betting Handle and Host Cities

A global tournament does not move a stock because a match is exciting. It moves the businesses whose revenue is tied to viewership, sponsorship, wagering volume or host-city spending, and most of those bets were placed years earlier.

July 4, 2026 · 5 min read
A celebrity couple in formal dress, representing the luxury halo effect
MarketsBehaviour

The 'Celebrity Effect': What a Trending Wedding Dress Reveals About the Luxury Goods Market

A celebrity wedding dress can trend for days. What that search spike actually tells you about the luxury sector, why it's a weaker signal than it looks, and what really moves luxury earnings.

July 4, 2026 · 5 min read
Bitcoin coin representing cryptocurrency as a portfolio holding
BehaviourPlanning

Bitcoin in a Long-Term Portfolio: How Much Is Reasonable

Bitcoin's volatility and its low correlation to stocks make it a genuinely different conversation than a typical fund. Here's a level-headed way to think about sizing it.

July 1, 2026 · 5 min read
Declining market chart representing a recession or economic downturn
BehaviourPlanning

Recession-Proof Investing: What Actually Holds Up When Markets Drop

No investment is truly recession-proof, but some hold up far better than others. Here's what actually tends to happen to different assets during a downturn, and why.

June 30, 2026 · 4 min read
Coins stacked steadily over time representing dollar-cost averaging
BehaviourBeginner Guide

Dollar-Cost Averaging: Why It Works Even When the Market Doesn't

What dollar-cost averaging actually is, the math behind why it smooths out a bumpy market, and how to set it up so you never have to think about it again.

June 21, 2026 · 5 min read