COVID-19. No one has seen anything like it before and hopefully we’ll never see anything like it again. As the pandemic swept across the United States, it swept millions of people onto the unemployment rolls creating the highest level of unemployment among Americans since the Great Depression. Congress passed the...
A short interview with Jeremy Siegel by Robert Huebscher in Advisor Perspectives. Siegel touches on a number of interesting topics: The US stock market is fairly cheap at 16 times next year's earnings - as long as interest rates are around 3%. The volatility we've been seeing lately is...
One of the things I've been pondering lately is the possibility that we are in the midst of a regime shift. I'm not talking about a cyclical change but rather a long term, secular one. For all of my investing career - and for almost everyone's entire investing life...
Elon Musk's lack of self control has finally bought Tesla a real problem. Does Tesla survive without Musk? That's a harder question to answer than it seems at first blush. The stock price is intimately intertwined with the aura of Elon Musk. Without him, Tesla is just a money...
The EU Commission's measure of economic sentiment (ESI) continued to edge down in September. At 110.9, the index was 0.7 points short of its unrevised August reading and at its lowest level since June last year. The gauge has fallen every month so far in 2018. Read the rest at...
Everyone, or at least all the right-thinking people, believes that capitalism needs to be reformed. Elizabeth Warren calls her version Accountable Capitalism. Marco Rubio dusted off an 1891 speech by Pope Leo to advocate what he calls Common Good Capitalism. Both are attempts to correct what these lawyers see...
The headline says up 4.5% but that was almost entirely due to a surge in aircraft orders. Ex-transportation, orders were up just 0.1% and core capital goods were down after three straight up months. Read the rest at Econoday  
Most everyone has heard of the Chinese proverb – or curse – that wishes one to live in “interesting times”. You’ve probably also heard that in Chinese the word “crisis” is composed of two symbols, one that denotes “danger” and another that means “opportunity”. Well we certainly live in...