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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
Tonight Britain has passed a referendum calling for the country to leave the Eurozone. It looks like US markets will open down severely tomorrow. The British pound is down about 10% against the dollar, and Asian markets are sinking fast. … Continue reading
While pundits have claimed that there is just no more money to be made in bonds because rates are as low as they’ll go, rates keep dropping ever lower. Take the thirty year Treasury issue. In 2008, at the height … Continue reading