The equity markets have been quite volatile of late with 300 and 400 point swings in the Dow Jones Industrial Average, intra-day, not uncommon. What is going on? Many opinions abound, but I would suggest that two major forces are at play. Both of them impact the amount of the “liquidity” for stock trading available. … Continued
Home price growth slowed in October and the question that lingers is whether the recovery from the slump in pricing that began with the Great Recession in 2008-09, is coming to an end. This is an important consideration because price growth provides the accumulation of equity that typically allows homeowners to “trade up.” The cycle … Continued
Media commentary regarding the price of oil tends to focus on two widely quoted markets, Brent and West Texas Intermediate (WTI). The price of Brent crude reflects North Sea sourcing, whereas WTI is used as a benchmark in oil pricing. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. There are … Continued
No one knows. While conflicting opinions are rampant, just watch CNBC, history suggests that predicting future Federal Reserve moves is a good way to get your head handed to you. In trying to anticipate potential future changes in interest rates, investors might be well advised to consider the Fed’s mandate. The U. S. Congress established … Continued
Because someone is likely to come along and promise to give you exactly what you are asking for. If you believe that you need a 5% return on your fixed income portfolio, or a certain and consistent 12% annual increase in your equity portfolio, someone will come along and promise just that. Often, the promise … Continued
“Let us enter the New Year cheerfully. Let us resolve to look on the bright side, to make the best of whatever may befall, to maintain faith that doing the right thing will ultimately bring victory. Let us cultivate sunniness, resist sourness. We can better wrestle with difficulties, obstacles, problems in a spirit of buoyancy … Continued
The recent and relatively precipitous decrease in the price of oil is likely to lead to a period of adjustment and uncertainty. Markets typically have not liked uncertainty. This suggests that investors are likely to be subjected to increased market volatility until there is greater visibility relating to the economic and geopolitical impact of the … Continued
Cuba is essentially a dependent country, in that it has been unable to generate enough export income to fund a minimal level of imports. Over the last 50 years, Russia has been a major supporter and, more recently, Venezuela has helped, primarily with bargain oil. Both of these countries are facing increasing difficulties at home, … Continued
As of December 15th the average price of a gallon of gas in Michigan had fallen to $2.43 and crude oil prices fell to less than $60 a barrel (over a 37% decline this year) for the first time since July 2009. The Organization of the Petroleum Exporting Countries (OPEC) announced last week that it … Continued
This is the third and final chapter in our review of Morgan Housel’s “rules for investors.” “Things change quickly – and more drastically than many think.” Fourteen years ago, Enron was on Fortune magazine’s list of the world’s most admired companies, Apple was a struggling niche company, Greece’s economy was booming, and the Congressional Budget … Continued
Here are some more of Morgan Housel’s “Rules for Investors”. “I don’t know are three of the most underused words in investing.” No one knows what the market will do next month. No one knows when interest rates will rise or where the price of oil is headed. Listening to people, who say they know, … Continued
The Wall Street Journal recently published a commentary by Morgan Housel, a columnist at The Motley Fool, titled “Sweet 16: Rules for Investors”. His basic premise was that with U. S. stocks near all time highs, it might be a good time to review some fundamental, and often overlooked, investment truths. Over the next few … Continued
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