Bubble, bubble, bubble!  Tune in the news and particularly the financial news, and this is all we hear—bubble-talk!  The teaser (just before a quick word from their sponsor) is something like this, “Some financial experts think the market is approaching bubble territory.”  Then, after 20 minutes of commercials, the expert, who is usually the same expert who has been predicting doom-and-gloom since the 1950s, says they are “concerned” and they think, no urge, investors to “use caution” or “tread lightly.”  On February 25, one station even trotted out perma-bear Nouriel Roubini.  A sure sign of desperation for bad news is Mr. Roubini. Read More

Just 48 days till Spring, and it can’t arrive a day too early.  And while I look forward to Spring and some warmer weather, there’s always another day shortly after March 20 that dampens my mood—April 15, tax day!  These next 74 days get a little busy around here as we try to get out the 1099’s and get in the final IRA payments.  We actually like to be active, so that part is not too bad.  It is the call from our CPA that I dread.  Don’t get me wrong; I usually have a good idea whether it is going to be good or bad—it’s almost always bad news.  But it is the degree of badness that causes my heartburn.  Here are a few points about this time of year. Read More

Well, I have certainly been a slacker when it comes to this newsletter.  This summer was busy both in and out of the office, and I am definitely using that as my excuse.  Plus, there has not been much financial stuff since the May 28 newsletter to cover.  As a year, 2020 has been a bad horror movie, but there was nothing but good news in the markets since March 23.  And let’s face it, there are a limited number of ways and a finite number of times that we can say “hold on” or “the market is fine” before people start tuning you out.   Read More

I look out my office window as I write this and we finally have a sunny day—and it’s 82 degrees.  And on top of that, it’s a Friday afternoon!    A perfect day to ramp-up your vitamin D levels.  So let’s get into this letter and get it done.

Regarding the markets, April had an excellent rebound from the horror show that was March. Read More

Well, here we are still stuck in social distancing due to the COVID-19 pandemic.  Retail shops, bars, clubs, restaurants, and almost everything else are closed for probably another month.  Even Major League Baseball is in hiding.  Every new day looks like yesterday.  The only excitement these days is in the markets.  And that is the last place we want drama.

April has been a welcome relief to the Read More

Well, that sure escalated quickly!  The old saying is that markets go up on an escalator and come down on an elevator.  Over the long-term this month and perhaps this entire year will be an elevator trip to the lower floors.  But if history is any guide (and is there any better guide?), the long and relentless march from the lower left of the chart to the upper right will continue.  Nothing has ever stopped that march, and I doubt this virus and lower oil prices will either.

As I write this morning, Read More

After last week and the beginning of this week, I think it is a good time to address the world-wide gorilla in the room—Coronavirus, or COVID-19, as it is now officially named.  Monday and Tuesday were horrible days in the markets as many people (and algorithms) panicked out of equities and moved to cash or Bonds.  We will not panic here.

Let’s look at the good news first.  Read More

I finished a good Audible Book this summer, 12 Rules for Life by Jordan Peterson[i].  Since writing this best selling book Dr. Peterson has become a worldwide celebrity and YouTube sensation.  His lectures, blogs, podcasts, and talk-show appearances, are watched by hundreds of millions throughout the world.  He just wrapped up a 160 worldwide city tour in the last year.  He has over 2 million subscribers to his YouTube channel.  All of which to say is pretty darn good Read More