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The Nifty 50

According to Investopedia, the Nifty 50 was a group of stocks that were most favored by institutional investors in the 1960s and 1970s.  Companies in this group were usually characterized by consistent earnings growth and high P/E ratios. Recently, The Wall Street Journal published an article that started with the statement, “a rally in stocks […]

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The Brexit Drama Continues Under New Management

We have previously commented on the status and complexity of Great Britain’s struggles with Brexit, most recently on April 30, 2019 (Understanding Brexit). Boris Johnson has won the race to lead the ruling Conservative Party and become Britain’s prime minister, succeeding Mrs. May.  He inherits the difficulties and conflicts of the country’s decision to leave […]

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Universal Basic Income for America?

We have previously commented on proposals by economists and political scientists that would substitute universal income policies as credible alternatives to existing social programs such as unemployment insurance. (See blogs dated 2015-12-17, 2016-11-22, 2018-05-02 and 2019-02-21). The idea is straight forward: Provide citizens with a minimum allowance, without means-testing, that would give everyone the wherewithal […]

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Predictability, Still Important

On February 28, 2013 we posted a blog titled, “The importance of predictability or, just tell us what the rules are.” The themes discussed in that blog remain just as relevant today, despite changes in Congress and the White House. It is difficult to overestimate the importance of being able to plan ahead. Investors in […]

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Coin of the Realm – Update

On Feb 16, 2018 we posted a blog titled, “Coin of the Realm”, in which we suggested that legal tender is what the government says it is and governments don’t like competition. Recently, Facebook announced plans to introduce Libra, a permissioned blockchain digital currency.  The project, currency and transactions are to be managed and entrusted […]

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Interest Rate Paranoia

It seems that the financial media is currently consumed with short-term interest rates, persistently and continuously over-analyzing the prospects for even the smallest shift in Federal Reserve Board (FRB) thinking. This is not useful.  Investors are likely to be best served by developing, and then sustaining, a long-term investment strategy that suits their specific circumstances. […]

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