Ten years ago this October 9, the stock market hit an all-time high level. Over the next 17 months, a disastrous mix of market greed, unintended consequences from poorly conceived financial regulations, and even worse reactions to those unintended consequences caused the stock market to decline by more than half. Thus, October 9, 2007 [...]
If the current economic expansion lasts another year and a half, it’ll be the longest on record, even surpassing the expansion of the 1990s that ended in early 2001. Notice how we didn’t say it’ll be the “best” expansion of all-time, just the longest; it’s not the best by a long shot. [...]
Years ago we helped a firefighter with his retirement plan, and he told his friends and co-workers. We now work with 4 or 5 dozen of his current or former co-workers. That tells us they are happy with our services and they trust us. If you would like to have more confidence in your [...]
Next Monday (October 9th) will be exactly ten years from the stock market peak before the Financial Panic of 2008. Imagine that Doctor Doom, the perceived “best analyst in the business,” told you on that night, when markets peaked, that financial authorities would allow mark-to-market accounting rules to burn the banking system to [...]