Investors are herd creatures. We can’t help it; 100,000 years of programming is hard to unlearn. That said, what enabled our ancestors to survive on the African plains and later in medieval societies was the ability to quickly figure out…
SUMMARY It probably comes as a surprise to no one, but the first quarter of 2020 was the worst first quarter in modern market history. The stock market lost -19.6%[i] during the quarter, but even that fact masks the truly…
Exactly one month ago (February 19, 2020), the S&P 500 made a high just above 3393 before closing at 3384. We didn’t know it at the time, but that was the market top. All of the major market averages were…
THE NEW GOLD RUSH Welcome to the new gold rush. There is a feeling in the investment world that we are in an Age of Disruption that is going to change the way we do everything. From a stock investor…
Summary 2019 closed on a high note for stocks as interest rate cuts fueled a speculative boom which has continued into 2020. Against a backdrop of accommodative central banks all over the globe and a somewhat more cordial relationship between…