Wealth Effect

According to Wikipedia, wealth effect is the change in spending that accompanies a change in perceived wealth.  Usually the wealth effect is positive: spending changes in the same direction as perceived wealth. People typically spend more overall when one of two things occur:  when people actually are richer, or when people perceive themselves to be … Continued

First-mover Advantage

According to Wikipedia, “in marketing strategy, first-mover advantage is the advantage gained by being the initial significant occupant of a market segment”.  The first entrant often gains a competitive advantage and can be rewarded with exceptional profit margins and a monopoly-like status. However, not all first-movers are rewarded if the first-mover does not capitalize on … Continued


It is abundantly clear that society needs rules (regulations) in order to function.  However, the rules need to be rational and serve the greater good rather than a means to achieve objectives that are not acceptable to the majority. Over the last year, the current administration, through executive orders, has been actively rolling back a … Continued

Coin of the Realm

Meriam-Webster defines “coin of the realm” as:  1. The legal money of a country, or 2.  Something valued or used as if it were money in a particular sphere. Investors and cryptocurrency enthusiasts should also consider another possible definition.  A country’s coin of the realm (legal tender) is what the government (King) says it is.  … Continued


Investors may want to consider the affect of too much information (TMI) on investment decisions.  With CNBC broadcasting more than 12 hours every business day, it is easy to binge watch an endless flow of “news” which is often only someone’s opinion and frequently almost immediately contradicted by another commentator. Over the last several years … Continued

Vegas versus Wall Street

In Las Vegas, on any given day, a gambler can strike it rich or lose it all.  However, over time, the house always wins. On Wall Street, on any given day, an equity investor can strike it rich or lose it all.  However, over time, stocks have proven to be a winning bet. This is … Continued

Entertainment, Politics and Ratings

It is becoming increasingly apparent that major TV entertainment events, such as NFL games and major award shows, are suffering from declining ratings.  Most recently, viewership for the Grammy Awards were down approximately 24%, setting a nine year low. This is a significant development for broadcasters, advertisers and investors. According to a recent article in … Continued

Conventional Wisdom

Wikipedia defines conventional wisdom as the body of ideas or explanations accepted as true by the public and/or experts in the field.  Wikipedia goes on to note that conventional wisdom is not necessarily true. It is, additionally, often seen as an obstacle to the acceptance of newly acquired information. Never-the-less, conventional wisdom, more often than … Continued

Geriatric Health Care Screening

A recent commentary written by Liz Szabo for Kaiser Health News discusses some of the issues relating to benefits and risks associated with cancer screening for the elderly. In her article, she states that, according to the American Journal of Public Health, nearly one in five women, with severe cognitive impairment, including older patients, are … Continued

Are You Afraid to Fly? Why?

Recently released global airline accident data indicates that not a single airline passenger suffered a fatality from a jet crash anywhere in the world in 2017.  This is almost an unimaginable safety milestone, even though the average number of airliner accidents and fatalities has been declining since 1997. While there have been a few fatal … Continued

Should Retirement Be An Age or Financial Decision?

Historically, investors have tended to plan and save for retirement with a specific age in mind, often 65.  An age based strategy used to make sense as, in many cases, it was driven by the timing of pension benefits and the start of Medicare and full Social Security eligibility. Now that defined benefit pension plans … Continued

Sustainable Growth

According to the Congressional Budget Office, the U.S. economy is running at its full potential, defined as the maximum sustainable growth rate, for the first time in a decade.  Most economists agree that an economy’s sustainable growth rate is determined by how many people are working and how productive they are. It appears that the … Continued