Thursday, December 8, 2016
Monday, December 5, 2016
Let's you and I never underestimate how much America's greatness owes itself to trade.
Don Boudreaux articulates this as well as anyone I know. I highly recommend his book Globalization.
Sunday, December 4, 2016
Nicolas D. Kondratieff, a Russian economist, studied historical commodity prices in the 1920s. He found that there existed long economic cycles in capitalist nations that evolved and self-corrected, which was in sharp contrast to the Marxist notion that capitalism would be its own doom. He died in a Siberian concentration camp in 1938.
Friday, December 2, 2016
Last week we touched on the continuing (as of this week) selloff in the bond market. I warned of the dangers of owning bonds in a rising inflation/interest rate environment. I also mentioned that we haven't ventured there in quite some time. What I failed to mention is that had we ventured, or, I should say, stayed, there, at least until very recently (and a few stints along the way), our clients' portfolios would've realized better results on the fixed income side of the ledger. Yes, generally speaking, owning a few select bonds over the past few years yielded better results than the cash and short-term CDs we clung to.
Republican billionaire businessman Ken Langone and I (per yesterday's video) are on the same page on this one:
"Trump has to understand, and he will, no doubt about it, ... we don't have a managed economy. We don't say to companies you can't go and you won't go. That's scary,"