It is ingrained in our societal message regarding investments that stocks are risky and bonds are safe. We all “know” this because we are told it, explicitly and subtlety, every day. Because of this, individuals in our country, and indeed around the world, have tens of trillions of dollars invested to earn 3% or [...]
In spite of woeful prognostications to the contrary, the US economy seems to be wearing Kevlar. Rate hikes, tariffs, Turkey, you name the fear, the economy remains unscathed. Case in point, through all the supposed turmoil, the U.S. grew at a 4.2% annual rate in the second quarter and looks set for a similar pace [...]
For decades the United States has, directly and indirectly, subsidized global growth. For example, after World War II, the U.S. provided direct economic aid to Western Europe with the Marshall Plan, while also helping to rebuild Japan. And since then, we have provided never-ending direct aid to foreign countries, which has been a constant political [...]
In my last blog I mentioned I would follow up with example of not only why the financial press is virtually always wrong, but why they have to be wrong. Again, in this vitriolic time I feel compelled to remind you that this is not a political commentary of any kind. Any comments made here [...]
"Wealth creation" versus "the redistribution of wealth" is an age-old political/economic battle. And once again, Senator Elizabeth Warren - among others - has capitalism in the crosshairs. Adam Smith defended capitalism in 1776. Karl Marx attacked it in the 1800s. William Jennings Bryant attacked it; Grover Cleveland defended it. FDR attacked it; Ronald Reagan defended [...]
One of the hardest things for me to put aside when writing blogs and similar posts is the focus on the big picture. The “Why”. Why do we plan? Who is this money ultimately for and when do they need it? Most of you know we have spent decades warning about the misinformation in the [...]
Since March of 2009, the predictions of economic, and stock market collapse have been non-stop. Doom-and-gloomers have been unrelenting. And it's doubly frustrating since you can't disprove a negative until it doesn't happen. We have written hundreds of pieces since the recovery - and bull market – began, arguing that the pessimism was unjustified. We've [...]
To our clients - We are in the process of updating some of our communication and reporting systems in order to enhance our relationship with you as well as stay up to date with constantly changing technology and security needs. Our client portal - known to you as our “Wealth Management System” - has been [...]
Something strange happened after last Friday's jobs report - the yield on the 10-year Treasury Note fell, finishing Friday at 2.95%, down four basis points from Thursday's close. To us, this makes no sense. If anything, it serves to reinforce our view that the bond market is making a big mistake. Yes, we realize that [...]