Old Age

It’s been 3 years since US equities have corrected more than 10%. But there’s no law about how long rallies can last without a correction.

In any event, as diversified, well-positioned investors (as, of course, we believe we are), does it really matter if stocks fall 10%? or 20%? If it does matter, you probably have the wrong portfolio. For the rest of us, volatility really does equal opportunity.

• 24 May, 2016

  Floating Oil

  Oil has had a nice recovery this year (see graph for Brent, YTD), up about 18% to over $48/barrel today. Of course, this ...

• 24 Sep, 2015

  Yogi

  Baseball, more than any other sport, by far, has drawn its share of colorful characters. I don't know why that is, but ...

• 17 Nov, 2014

  Money Matters

  When the Fed embarked on Quantitative Easing (QE), many prominent economists warned this would lead to hyperinflation ...