Stop. Take a Deep Breath.

Stop. Take a Deep Breath. The last few weeks have been amazing to watch, even for old investment pros. The narrative which over the course of 2022 had gone in our direction (recession), first flipped to a soft-landing scenario (slow growth, but no recession), then flipped to a ‘no-landing’ scenario (i.e., economic growth continues). Finally, […]
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The Red Zone

The Red Zone For those that are not football fans, the red zone is the area inside the 20 yard line, where the team is close to scoring a touchdown. When the red zone is reached, the defense is defending a much smaller area on the field, which presents a greater challenge for the offense. […]
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I’m Sorry, Dave. I’m Afraid I Can’t Do That

I’m Sorry, Dave. I’m Afraid I Can’t Do That Our title is the iconic line from Stanley Kubrick’s 1968 sci-fi masterpiece: “2001: A Space Odyssey”. For those who are not movie buffs, the artificial intelligence in the HAL 9000 computer goes haywire and the astronauts are forced to attempt to disconnect HAL, but HAL has […]
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Open Door Policy

Open Door Policy China’s Zero-Covid policy could not last forever, but the suddenness of the reversal was unexpected. China’s doors are opened once again. The initial reaction is one of optimism for global economic growth, but hurdles remain. If we have learned anything about Covid, it is that once released, it spreads quickly. The Lunar […]
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Bottom’s Up!

Bottoms Up! In his classic 1934 book “Security Analysis”, Benjamin Graham, the father of value investing (and a mentor to Warren Buffet), said something to the effect that in the short run the stock market is a voting machine, but in the long run, it is a weighing machine. Eighty-nine years later, that comment still […]
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What Do You Think?

What Do You Think? Our inboxes are full of market and economy projections for 2023, most of which are completely worthless. In early December, 2021, Reuters ran a story with this opening line: “The S&P 500 will gain 7.5% between now and the end of 2022 to finish at 4,910, driven by earnings and economic […]
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New for 2023 – Secure Act 2.0

New for 2023 – Secure Act 2.0 As part of the $1.7 trillion omnibus spending bill, changes are coming to retirement plans beginning next year. The idea is to get more people to save more for retirement, which is a good thing, but be careful, saving too much in retirement accounts can have a downside, […]
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