Bold Market Predictions
We hope this letter finds you and your family well and that you are able to enjoy time together during the holiday season. This month, rather than sharing our own…
Bitcoins
The Future of Bitcoins… In September, two notable events related to Bitcoin occurred. First, President Biden suggested requiring that all sales of Bitcoin over $10,000 be reported for tax purposes.…
Market Projections
Well, I worked hard on building the best possible portfolios for our clients — and I finally received some recognition. They named a hurricane after me. There are two researchers…
Innovation Versus Inflation
Innovation Versus Inflation Throughout human history, innovation has been a constant. Two of the most transformative innovations — money and inflation — date back thousands of years. For long stretches,…
Inflation and Relief
Inflation: The Consumer Price Index is up at a 10% annual rate. Should we be worried? There are several reasons behind these higher-than-usual numbers: The rate is overstated due to…
Some Interesting Notes
Some interesting notes we’d like to share… The stock market declines by about 10% every two years. The next drop will likely be a short-term fluctuation, not a full bear…
Efficiencies
ICE… Innovation, Competition, Entrepreneurs March 2021 brings daylight saving time, the start of spring — and the one-year anniversary of a new bull market. On March 18, 2020, I (incorrectly)…
Unlikely Ally
Unlikely Ally… In an era of fake news, our investment research strategies raise an interesting ethical question. We aim to outperform the market through unique approaches, better mathematics, and a…
Predictions on Inflation
We live in interesting times. Projecting what will happen in the year ahead is always difficult. I’m tempted to say, “The market will fluctuate,” and leave it at that. But…
The Election Is Over
The elections are almost over. We have a Democratic President-Elect and a Democratic House of Representatives. Control of the Senate will be decided on January 5th. What does that mean…
Imagine
Imagine… A child is born 72 years ago. Grandparents or parents place $100 into an investment account at birth and continue contributing $100 each birthday. When the child begins working,…
Four Broad Approaches
There are four broad ways a corporation can increase its stock value: Internal Growth, Mergers and Acquisitions, Debt Reduction, and Share Reduction. **Internal Growth** is the most fundamental and desirable…