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There has been a great deal of talk about the housing recovery. Sales of existing homes steadily rose between mid-2011 and mid-2013 on the back of a weak U.S. dollar and an increase in the money...
In a world of high-frequency trading, central bank rate manipulation and cross-border fund flows, fundamental value often gets pushed to the back burner. Without question, U.S. stocks are very...
Most of the top 50 economies in the world have engaged in one form or another of monetary stimulus since the start of 2009. Halfway through 2014, most still endeavor to keep interest rates low to...
Government debt around the globe is roughly 40% higher than it was just five-and-a-half years ago. In fact, the majority of “top 10″ economies, including the United States, carry untenable...
The 30 companies that comprise the Dow Jones Industrials collectively failed to increase sales in 2013. Yet the price of the Dow surged more than 25%. And while that price appreciation for the...
Are investors cautiously optimistic? Probably. A little bit greedy? Maybe. Yet I would be hard-pressed to describe the current psychology in terms of 'euphoria'. The most apt descriptor is...
According to a study by LPL Financial, the “smart money” may be exiting equities. Hedge funds, institutions, insiders and foreigners were net sellers of stock in June. The net buyers?...
“The contraction in the first quarter is not reflective of the underlying state of the U.S. economy and the subsequent flow of data points to a significant snap-back in the second...
Imagine for a moment that you are not familiar with ticker symbols. Now, let me name seven contenders for your investment dollars — assets that simultaneously diversify your portfolio as well as...
Many of the word’s most respected economists projected the direction of interest rates at the start of the year. The average assessment? Experts collectively anticipated that the 10-year...
In the history of the NBA Finals, no team had ever come back from a 3-1 deficit. Miami Heat believers explained that records were meant to be broken. And Lebron James asked, “Why not...
Most folks experience anxiety about carrying any kind of debt load. Many of us do not even distinguish between the different types of debt that we owe.Of course, some debts may be “better”...
Upon his passing, Warren Buffett would like a trustee to place 10% of his wife’s money in short-term government bonds and 90% in a low-cost S&P 500 index fund. Buy-n-holders see this as...
One of the key themes that I presented at the start of 2014 was the notion that capital would begin shifting abroad. Attractive valuations compared to U.S. equities, ongoing stimulative measures in...
The Internet buzzes with predictions for the next bear market. Some use fundamental analysis to make their case. For instance, Shiller’s cyclically-adjusted price-to-earnings ratio for U.S....
The Internet buzzes with predictions for the next bear market. Some use fundamental analysis to make their case. For instance, Shiller’s cyclically-adjusted price-to-earnings ratio for U.S....
Economist Hyman Minksy argued that when a private sector accumulates too much debt, an economic system buckles. Supporters of his theories point to the catastrophic effect that sub-prime mortgages had...