You Are What You Read
Read With Caution When There’s Money at Stake Know your authors, their biases and their tracks records. Bloomberg, April 12, 2017...
YAGI: Yet another garbage indicator
The Dumb Money Isn’t So Dumb Individual investors haven’t abandoned the stock market. They’ve just gotten smarter about...
New Glass Steagall: Repeal & Replace for Dodd-Frank ?
One of the great misunderstandings about the financial crisis is the role that repealing the Glass-Steagall Act played. This is newly...
The Death of Active Management Has Been (Somewhat) Exaggerated
Don’t Mourn the Death of Stock-Picking Just Yet There’s a shakeout underway among actively managed funds. That’s...
You Were Not Built For This
Your Brain Wasn’t Built to Handle Reality Investors, like political partisans, believe things that haven’t been proven....
Downsizing America’s Retail Footprint
U.S. Stores Are Too Big, Boring and Expensive Large retail chains, the malls they usually find themselves in, and even flagship urban...
Inverted Priorities Imperil Trump Tax Agenda
Let’s begin by stating the obvious: My priorities are different than yours or Paul Ryan’s or the president’s. We all have a...
Homo Economicus vs Homo Sapiens: Changing Behavior
Here is a sentence I never thought I’d write: Art Laffer is right. I refer specifically to tax incentives. Laffer was recently...
What’s Your Narrative?
What’s your story? I don’t mean your personal history, relationship status or childhood neuroses. I refer to your market narrative....
Last Call for 50-Year Treasury Bonds
Chance for Smart U.S. Debt Funding Is Slipping Away Interest rates are rising and the country should act now to lock in cheap financing....