Dow Industrials vs. Gold
In the last 115 years there have been three secular bull markets in gold versus the Dow. The current secular bull market in gold...
Are Small-Cap Stocks Running Out of Steam?
Is the strength in small-cap stocks running out of steam? I’m not talking about the recent correction in small stocks, but rather the relative...
Muni Debt Trap
You know how hard it is to be retired on a fixed income these days, especially with a risk-free rate (three-month T-bills) at less...
Housing Starts Look Weak
Housing starts released today came in far below consensus estimates. Government efforts to stimulate the housing market have once again failed. The federal tax...
A Troubling Trio of Economic Indicators
In over four decades in the investment business, I have found that the most reliable economic indicators are not those released by government statistical...
Simple Arithmetic Vital to Your Investment Success
My arithmetic of portfolio losses chart shows the return necessary to break even after incurring a loss. The horizontal axis shows the assumed portfolio...
Continuing Claims Remain Stubbornly High
Total Continuing Claims remain stubbornly high. For the recovery to become self sustaining continuing claims must start falling much faster.
A Strategy for Picking ETFs
Since the first ETF was launched in 1993, assets under management have increased to $830 billion as of April 30, 2010. Over the last...
Natural Gas Breaks Out to 3-Month High
Big upside breakout is bullish for natural gas. Excess inventories are coming down and investors are likely realizing that as a result of BP...
The Crash
The Regional Economist from the Federal Reserve Bank of St. Louis is a must-read for any serious investor. The quarterly review provides business and...