Someone Likes Every Shot

This is an old adage, generally applicable to golf, in that if you have a good shot, you like it, if you have a bad shot, your opponent likes it. This concept tends to be just as true away from the game of golf.  For example, lower oil prices are good for motorists and other … Continued

Volatility/Turbulence/Uncertainty

These three words, while all different, are all applicable to the near term outlook for the stock and bond markets.  It seems that the equity markets are being buffeted by more frequent and larger percentage changes than in recent memory.  Commodity prices have sustained large price changes with major declines in the price of oil … Continued

The Fed’s Interest Rate Decision

In his blog on Fed watching, my colleague Walter does an excellent job of explaining and summarizing the Fed’s reasons for not raising interest rates last week.  Many market participants seem frustrated by the lack of action by the Fed.  Admittedly, as the Fed continues down the road less traveled, the lack of an interest … Continued

Fed Watching – A Follow-up

The comments below are a follow-up to our blog of September 1, 2015. At the recent September meeting the Fed chose to not raise interest rates and provided guidance that might suggest that a rate increase may be a little further down the road than previously thought. In remarks following the Fed meeting, Chairman Yellen … Continued

Higher Education as an Investment

By now we are all generally aware that the cost of a four year college degree continues to increase and student loans are a growing problem.  There may also be some greater recognition that an undergraduate college degree is not an automatic ticket to an above average income. College represents a significant investment of time … Continued

Tax Loss Harvesting – Taking Advantage of Volatility

Tax loss harvesting is the portfolio management practice of selling a security that has experienced a loss in order to capture tax savings.  Realized capital losses can be used to offset future realized capital gains. Any realized losses that are not utilized in any one year can be “carried forward” indefinitely.  Further, investors who don’t … Continued

Government Economic Data?

Any attempt by investors to strategize based on government data should consider that virtually all announced monthly statistics are subject to almost endless revisions, some of which may be substantial.  It is also clear that the media will precede actual announcements with a seemingly endless and widely diverse array of projections, followed by a minute … Continued

Scalability

Wikipedia defines scalability as the capability of a system, network or process to handle a growing amount of work, or its potential to be enlarged in order to accommodate that growth. This is an important concept for investors.  In a business setting, scalability defines a system whose performance improves after additional investment proportionally to the … Continued

The Minimum Wage Dilemma

The issue of raising the minimum wage has always been controversial and with the run up to the November 2016 elections, the rhetoric has become more pervasive and heated.  This is an important issue for investors and, to a lesser extent, consumers. It seems that the pros and cons of the matter can be summarized as … Continued

Fed Watching

It appears that, after reviewing the latest comments from the Fed, the majority of prognosticators continue to believe that the Fed is likely to modestly increase interest rates at the September meeting.  Apparently these expectations come despite some real questions as to whether economic conditions actually warrant higher interest rates.  Consider: Inflation appears to be running … Continued