Old Age

It’s been 3 years since US equities have corrected more than 10%. But there’s no law about how long rallies can last without a correction.

In any event, as diversified, well-positioned investors (as, of course, we believe we are), does it really matter if stocks fall 10%? or 20%? If it does matter, you probably have the wrong portfolio. For the rest of us, volatility really does equal opportunity.

• 29 Oct, 2014

  DOUBLE LEVERAGE?

  Oil prices are down about $30 from their highs; great news for consumers and the big oil importers (China, Korea, ...

• 9 Feb, 2015

  Where Have All the Bonds Gone?

  Apologies to Pete Seeger for stealing his song lyric, but I think bonds and flowers are sufficiently different that he ...

• 7 Aug, 2019

  No Winners

  Berry Gordy, the legendary founder of Motown Records, had a genius for spotting talent and creating stars: Mary Wells, ...