Price -Usually- Cures Price
Among the bits of wisdom I first received as a young analyst was from a commodities trader who told me, “Price cures price.” Meaning when the price of a commodity had plunged, producers would likely curtail production of that commodity as it was no longer…
Breakin’…The Movie & The Yield Curve (As In, The Yield Curve Is Breakin’ Out)
Some of us remember a time BEFORE breakdancing; let me tell you, those were dark days. Then, everything changed! We were introduced to moves like “The Windmill” and “The Freeze” and dancers like Crazy Legs and Mr. Wiggles (what awesome names!). Some of us became…
If Demography is Destiny, Thank a Millennial
When markets obsess over the news of the day, such as GameStop and a short squeeze of epic proportion (more on that in a bit), the best thing we can do as long-term investors is take a step back and focus on what drives the…
There’s no place like home
Most of us have been spending an extraordinary amount of time at home, and if we are lucky – as I am – we have been healthy, employed, and surrounded by loved ones. There really is no place like home, which brings us to the…
What history will COVID-19 write?
The COVID-19 pandemic has made history in more ways than one, including catalyzing an economic downturn that cost the US more than 20 million jobs and a policy response that saw the Federal Government pass the $2.1 trillion CARES Act, the largest ever US economic…
How the Federal Reserve is like Spike from Happy Days
As a child of the 70s, I have come to embrace a few, eternal truths: disco should have never died; big collars were a good idea, and the Fonz was the coolest guy who ever lived. Speaking of the Fonz, I am reminded of a…