Panic and Run! When my daughter was young her favorite show was a Disney cartoon called “The Lion Guard.” In one episode, the Lion Guard was trying to help a zebra whose herd was under attack by some hyenas, and the zebras’ reaction was to panic and run. I can still see my daughter dancing…
Diversification For casual market followers, it may seem as if we are in one continuous bull market. However, the market continues to shift below the surface. This past quarter healthcare stocks were up 11.7 percent while the technology sector was up only 1.4 percent. The techdriven market of the last 15 years has finally given…
Voting or Measuring “In the short run the market is a voting machine, but in the long run, it is a weighing machine.” – Benjamin Graham There is a great deal of wisdom in this famous quote. However, like many wise words they are far easier to say than to live by. No one likes…
Freedom is under fire—from both sides of the aisle. Critics say the free market isn’t working, yet their examples—housing, healthcare, education—are all heavily regulated. The problem isn’t the market; it’s the lack of one. As Friedman warned, skepticism of markets often masks a deeper discomfort with freedom itself.
Tariffs are often justified by the idea of restoring lost manufacturing jobs—but the data tells a different story. Manufacturing’s share of GDP has barely changed since 1947. While 6.7 million manufacturing jobs were lost since 1979, 9.4 million were gained in trade, transportation, and utilities. And today, there are more auto manufacturing jobs than in 1993. The narrative doesn’t match the numbers.
