There’s been a lot of talk recently about the number of businesses that will not reopen after the coronavirus pandemic—businesses that were only surviving because customers walked in the door everyday—businesses that failed when customers were required to stay home. COVID-19 isn’t the cause of these business failures. It’s...
I have been a fan of Japan as an investment for quite a while now. Shinzo Abe's economic reforms are, for now, paying large dividends. There are questions of course about monetary policy as implemented by the inventors of Quantitative Easing, taking monetary policy where it has rarely been....
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...
As I sit here Monday evening with the Dow having closed down 2000 points and the 10-year Treasury yield around 0.5%, the title of this update seems utterly ridiculous. With the new coronavirus still spreading and a collapse in oil prices threatening the entire shale oil industry, recession is now the expected outcome. Most...
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...
Stocks took another beating last week as the scope of the coronavirus shutdown started to sink in. The S&P 500 was down 15% last week with most of that coming on Monday after the Fed’s emergency rate cuts. Our accounts performed much better than that, but were still down...