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Last night’s historic electoral upset (not the first for the US, but surprising all the same) is still in the digestion phase, and will be for some time. Markets, however, wasted no time adjusting to the new reality, at least … Continue reading
I recently visited downtown Chicago. The city is spiffy, cheerful, and on the weekend I was there, events were abundant, the restaurants were crowded, cranes were sprinkled around town even with workers on overtime setting windows on a Saturday. Compared … Continue reading
This post is dedicated to a couple clients – you know who you are! – who requested a sort of primer on value investing. Sorry it’s so tardy, but you know, better late than never. In an era when indexing … Continue reading
For years, we have observed that the vaunted Fed has, at serious inflection points, done nothing more than followed the market. The evidence we’ve collected shows our hunch is on the mark, and that the market generally ‘knows’ ahead of … Continue reading
The media is full of disaster mongering now that Brexit has passed, In fact, even some Brits have been horrified by their own behavior in the referendum and are wishing they could take it back. The conventional wisdom is that … Continue reading