The Market Cycle and Investing

From January 30th, 2017 client presentation. It looks like we are in the 6th or 7th innings of an economic expansion in the USA. There are places in developed world and emerging markets that are still behind us and where there is still opportunity for equity upside....

Wage Increases are Good and Bad

From January 30th, 2017 client presentation. Wages HAVE BEEN increasing on an inflation adjusted basis for some time. A tight labor market should put even more pressure on employers to increase wages faster. When there is no one to hire, if you need an employee, you...

Tax Reform is a Fiscal Stimulus

From January 30th, 2017 client presentation. Tax reform is a $1.5 Trillion stimulus. But it is selective. And, it will absolutely lead to higher deficits, a higher national debt, and probably a whole lot of political wrangling. Previously: Valuations high, but not as...

Earnings Drive Stock Prices

From January 30th, 2017 client presentation. In the short term there are many many things that can push prices up and down. In the long term there is only 1 thing that matters. The markets are up and continue to rise because earnings continue to rise and may be...

Your Financial Plan is Everything

From January 30th, 2017 client presentation. Markets started of 2018 well, volatility is likely to return… AND It does not matter what markets do. Our success in markets has far more to do with our reaction to market movements than it does to the market movements...

It Was Not a Good Week for Stocks

Last week, stock markets around the world lost value. In the United States, the Standard & Poor’s 500 Index (S&P 500), Dow Jones Industrial Index (Dow), and NASDAQ all finished lower. Some pundits have been drawing comparisons between the performance of the...