Many investment professionals (myself included) consider core investments to be cash equivalents (US Treasury Bills or money market funds), bonds and common stocks. In simple terms, the combination of these asset classes will impact the daily or monthly variation in the value of the investment portfolio. On occasion, a client, or a financial services marketer … Continued
Edvar Munch’s The Scream achieved the highest price ever for a painting at auction this week when the bidding closed at nearly $120 million. It is one of the most famous paintings in the world, featured on posters hanging in college dorm rooms around the world (I had one in mine) and featured in movies such as … Continued
This week, Ford Motor Co. announced they will be offering a voluntary lump-sum defined benefit pension plan payment to about 90,000 US salaried retirees and former employees. Ford did not provide detail on the payout amounts or formula. The plan will be rolled out in stages starting July 1 and they have already begun notifying … Continued
The tales of murder, conspiracy, and corruption that are leaking out from China regarding the Bo Xilai scandal have been remarkable to follow. Truth can often be much stranger than fiction and the scandal surrounding this ousted politician has managed to rock the Chinese government. Prior to his ousting, Bo was seen as somewhat of a populist … Continued
On Monday, following Sunday’s first-round of presidential elections in France, the CAC 40 index (which is largely representative of the French equity markets) fell nearly 3%. The presidential incumbent, Nicolas Sarkozy, who has been on board with Germany’s austerity plans to tackle the European financial crisis, came in second place in the first-round vote to … Continued
I have a confession. I was once a democrat. The first presidential election I was eligible to vote in, I voted for Jimmy Carter. I never told anyone this before because frankly, I was embarrassed. But, today, 30 years later, I have learned much, and I have many intelligent, successful friends who are democrats and I … Continued
The emotional desire to “get even and get out” does not translate into a wise investment strategy. Rather, it is a recipe for disaster over the long term. The equity markets continued their march upwards throughout the first quarter of 2012 with many indices and individual stocks approaching their previous all-time highs. Since then, the … Continued
President Obama announced today that his administration is interested in “curbing speculation” in the oil markets. Is this a laudable goal? We have to remember how speculation fits into the overall transactional marketplace. Many businesses rely on speculators speculating to reduce their risk. For example, a farmer has to commit to purchasing seeds, fertilizer, equipment … Continued
In a Knox College Commencement Address in June, 2005 Mr. Obama stated, “Our economic independence depended on individual initiative. It depended on a belief in the free market; but it has also depended on our sense of mutual regard for each other, the idea that everybody has a stake in the country, that we’re all in … Continued
A good friend of mine was recently complaining about being tired. He had to be at work at 6 AM that morning and had stayed out way too late at a party the evening before. I said the party must have been a good one, and he replied that it really wasn’t that much fun … Continued
The multistate Mega Millions lottery jackpot stands at a world record high of $540 million for tonight’s drawing. Mathematicians will say you have a better chance of being struck by lightning 100 times than of hitting the jackpot. But spending $1 to fantasize about what you would do with the winnings can be a cheap … Continued
So often we take for granted our good fortune. Working with colleagues and clients at Sigma is truly my good fortune. It has also been my good fortune to have known Bob and Shari Bilkie for almost twenty years. Not only do they take their commitment to Sigma seriously, but that commitment carries through to … Continued
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