Former Detroit mayor Kwame Kilpatrick was convicted of corruption yesterday. There was widespread speculation that a jury of his peers might acquit in spite of compelling evidence to the contrary. This would have been a blow to the rule of law and the fortunes of cities with a culture of corruption that were/are attempting recovery. … Continued
No, this doesn’t refer to a sign of affection or to the musical band, but rather to another phrase that I will share in few moments. During my 20+ years at Sigma, I have been involved in two very unique situations that have produced the same results. One situation was a lottery winner and the … Continued
In view of the recent and well-publicized financial situation in Cyprus, investors may want to recall and consider that well known quotation, “A government big enough to give you everything you want, is a government big enough to take away everything you have.” All comments and suggestions are welcome. Walter J. Kirchberger, CFA
Long-term objectives typically require long-term solutions, which in turn, require a degree of predictability. Here at Sigma, we are primarily concerned with providing long-term investment results that are consistent with our clients’ long-term financial goals. We do not attempt to achieve investment objectives through short-term market maneuvering. We seek to provide a degree of certainty, … Continued
All comments and suggestions are welcome. Walter J. Kirchberger, CFA
Perhaps the most often question that I am asked of late is how does one protect him/herself from the pending burst of the bond bubble? It is a difficult question to answer as it depends on one’s perspective and what they are really trying to protect themselves from. Moreover, I am not even sure that … Continued
Last July we blogged about the outlook for energy in general and natural gas more specifically, particularly with regard to the potential for significant exports of liquefied natural gas (LNG). Now we have Japan’s Prime Minister meeting with our President to seek his support for shale gas imports to Japan. This is going to be … Continued
If I let politics get to me, my blood would be in a constant state of boil. However, the latest antics in Washington are once again beyond the pale. Rather than take any remotely serious steps towards solving the grave budget issues we face as a country, it appears the Administration’s strategy is a campaign … Continued
Front page headline, February 12, 2013 Wall Street Journal– “Millions Improperly Used Phone Program”. . Business front page headline, February 12, 2013 New York Times– “Waste Is Seen in Program to Give Internet Access to Rural U.S.” Opposite ends of the political spectrum, but same conclusion. How much more is wasted by the US government … Continued
This week’s Sunday New York Times carried an editorial about some shortcomings of the Affordable Care Act (Read article here). In particular, it cites a recent interpretation of a particular clause of the law made by the Internal Revenue Service which results in more modest subsidies for health insurance coverage than it feels is appropriate. … Continued
Yes, but perhaps not as soon as many expect. It is well-established that many of the world’s governments, including our own, are printing money and, historically, this has proven to be inflationary which usually leads to higher interest rates. However, up to now, money printing has not led to significant, broadly-based inflation. The Fed has … Continued
These two high-profile issues have been receiving a great deal of attention and can materially affect personal finances. However, in both cases, more important issues, critical to the decision process, are getting less attention. Consider interest rates. Many investors are disappointed in returns hovering around 2-3%, compared to historical expectations in the 4-6% range. As … Continued
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