A Ticking Bomb
On Monday morning while driving to Boston for a meeting, I was listening to the news while waiting for the start of the award-winning...
Personal Income: Outlook Not So Good.
There has still been no meaningful recovery in real personal income. The nascent recovery in consumer spending has come out of savings and from...
Are Small Stocks Safer Than Large Stocks?
A recent study in Financial Analysts Journal (FAJ) found that a portfolio of small-capitalization stocks is no more risky than a portfolio of large-capitalization...
If Greece Fails, is Portugal Next?
Greek government bond yields have surged to over 16% in recent days. If Germany doesn’t step into to save the Greeks, a default is...
Beat the S&P 500 by 2 to 1
My chart shows the long-term performance of $1 invested in the consumer non-durables sector in June of 1926 to $1 invested in the S&P...
The #1 Investment Book
You may be surprised to hear that Moneyball by Michael Lewis is my #1 investment book, given that it’s about baseball, not Wall Street...
Emerging Market Stocks Up Over 110%
Emerging market stocks are up over 110% since hitting lows in March of last year. Net flows into foreign stock funds, much of it...
Stay Defensive
Confidence in the economic recovery is improving, and retail investors are moving back into equities. Here are four reasons to remain defensive in the face of this renewed optimism:
Comparing Bull Markets
Based on the historical performance of four bull markets that were preceded by devastating bear markets, the current bull market is approaching exhaustion.
The Future of Oil Demand
If you invest in oil or oil companies and you do not pay attention to this group of consumers, you are making a vital mistake.