A Keynesian Debate

The debate over Keynesian orthodoxy is raging. Most recently, in a NYT op-ed, Paul Krugman suggested we are in the beginning stages of The Third Depression. http://www.nytimes.com/2010/06/28/opinion/28krugman.html We do not fully subscribe to Krugman’s analysis for a number of reasons. First and foremost, the Keynes prescription to spend to spur aggregate demand assumes borrowing capacity … Continued

Perfectly Acceptable

This blog has precious little to do with the economy or markets. I will start by saying that human error is present every day in markets. We sell when we should have bought or bought when we should have sold. We order too much inventory. Perfection is never guaranteed. One of my “bucket list” desires … Continued

Don’t touch my wallet!

This discussion relates to our blog posting of May 26, 2010 about the unraveling social contract in Europe. Since that time, “austerity” has become the policy prescription of choice by the governing classes to fix the budgetary ills of Europe generally and Greece specifically. Elected officials, for the most part, do not like to impose … Continued

Marisa Lenhard – President CFA Society of Detroit

We would like to use our blog forum today to extend a warm, and heartfelt congratulations to our colleague Marisa Lenhard, CFA for her election as the incoming President of the CFA Society of Detroit. Her acceptance speech can be accessed by clicking here – Marisa’s speech We feel strongly that any successful investment counseling … Continued

Employing Judgment

Gene Epstein, economics columnist for Barron’s Magazine, has proven remarkably adept at dissecting the employment readings put out by the US Government and assessing underlying trends with a reasonable degree of accuracy. In this week’s magazine, he points out that notwithstanding the dramatic negative impact that the employment numbers had on the stock market on … Continued