The Wrong Lesson

We tend to want to compartmentalize our politics, as we do with everything else, but in the real world, everything impacts everything else. We can’t separate foreign policy from economic policy from social issues because it all touches everything. This also makes it difficult to isolate a particular policy and know if its impact is positive or negative. In other words, there are no control groups, and learning the wrong lessons is very easy.

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Recession Avoided?

The slowdown in the economy has been driven by business investment, or the lack thereof, and the slowdown in business investment has been driven by uncertainty in international trade. The stock market seems to understand that, even if many who pontificate about the market do not.

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Second Quarter 2019

The Index is not the Market. The idea behind index investing is that the index is supposed to represent the market. One problem with this concept is that the index is just a sample of the market and, like any investment portfolio, it is a sample selected by someone. Often the index does not really tell the full story.

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The heart and soul of our firm is our passion for what we do and our unique perspective on the forces that affect the markets and shape our investment decisions for your portfolios. Learn more about the thought leaders behind our commentaries and operations.

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