It’s Money Supply not Interest Rates

There are two popular views regarding the economy and monetary policy. One is that the U.S. economy is on the edge of tipping into recession. The second is that with interest rates so low, the Federal Reserve (FED) does not have the ability to stimulate the economy.

Corporate Buy Backs

The activity of public corporations repurchasing previously issued shares has become a topic of controversy lately as two U.S. senators have proposed…

Monetary Policy: Neutral or Normal?

T-Bills are generally considered to be risk-free investments. An investor knows what the return will be over the short holding period, and the bills are backed by the full taxation power of the U.S. Federal Government.

Everybody’s Talkin’

The purpose of this article is to help remind financial advisers and their investors of the power of long-term investing and the potential cost of investor fear.

Recovery Rallies

Soon after the market bottom of March 2009, we stated that the sharp week-long market drop in October 2008 resembled the market “crash” of October 1987.

Finding Superior Active Managers

Research in behavioral finance over the last two decades suggests that superior managers do exist. We see how superior managers behave, we know what they look like, and we believe we know how to find them.

Top 15 Reasons Why Investors Have Missed the Bull Market

From the recession bottom March 9, 2009, through May 26, 2017, the S&P 1500 Index has gained 332.1%, meaning $1.00 invested in the index and held over that period would have grown to $4.32.

Bank Profitability and Interest Rates

Contrary to more common opinions, we believe that Financials stocks’ profitability can be independent of interest rates, even in low rate environments.

Deficiencies of P/E in Predicting Returns

Throughout the nearly eight-year stock market advance from the recession low of March 2009 through the record highs of March 2017, we have seen some analysts caution investors with regard to owning stocks.

Limited Resources How Passive Investing Interferes with Our Free Market System

Each country has to decide how to allocate its resources; land, labor and capital. Given these resources are limited, they are precious and need to be allocated in an efficient manner.