Market Commentary

The triumph of “les autres”… When investment decisions need to be considered at the speed of light, something is seriously wrong Frank M Bifulco (Barron’s Letters to the Editor 5-24-2010, Stock Trader’s Almanac) The game is lost only when we stop trying Mario Cuomo (Former NY Governor, C-SPAN, Stock Trader’s Almanac) If more of us…

A Hollowing Out… As for it being different this time it is different every time.  The question is in what way, and to what extent Bob Farrell’s Rules for Investing: #3 There are no new eras – excesses are never permanent #7. Markets are strongest when they are broad and weakest when they narrow a…

“Give a serving to seven, and also to eight, for you do not know what evil will be on the earth.” — Ecclesiastes 11:2 “As I have repeatedly said, inflation is a form of taxation without representation.” – Milton Friedman “Lenin is said to have declared that the best way to destroy the capitalist system was…

“Life can only be understood backwards, but it must be lived forwards.” – Soren Kierkegaard  “There are two kinds of people who lose money: those who know nothing and those who know everything.” – Henry Kaufman (German-American economist) to Robert Lenzner in Forbes 10-19-1998 who added, “With two Nobel Prize winners in the house, Long-Term…

I sincerely believe with you, that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. – Thomas Jefferson (To John Taylor 1816) If everybody is thinking alike, then somebody isn’t thinking.…

Readers who have followed the financial news over the past few days have seen headlines about the collapse of Silicon Valley Bank (SVB).  We wanted to provide a brief commentary about what happened and address investor concerns about the safety of their capital or any fears that a repeat of the 2008 financial crisis is…

There’s no way to sugarcoat it.  We’re currently in the worst period for bonds in history.  As of October 31, the Bloomberg U.S. Aggregate is down 15.7% year-to-date.  The Bloomberg Global Aggregate is faring even worse, with a year-to-date decline of 20.4%. Bonds are supposed to be a steady asset class.  Why are we experiencing…