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.

• 24 May, 2016

  Floating Oil

  Oil has had a nice recovery this year (see graph for Brent, YTD), up about 18% to over $48/barrel today. Of course, this ...

• 18 Dec, 2019

  Fireside Reading

  To sit near a warm fire in a comfortable chair on a cold night is one of life's pleasures that I hope you will be able ...

• 15 Dec, 2014

  Europe Sputters, US Cruises

  Europe's unemployment rate is 11.5%. Europe is currently growing at less than 1%. A rule of thumb is that it takes ...