Vehicle Demand is Booming, but is it Sustainable?

Over the last several years U. S. new vehicle sales have been gradually improving and, according to Reuters, November 2014 sales reached an annualized rate of 17.2 million, the best November since 2003.  This is in spite of a generally lackluster economy and concerns regarding consumer spending.  Not only was unit volume strong, but average … Continued

Shop Until You Drop!

The day after Thanksgiving is referred to affectionately as “Black Friday.”  This term is used by the retail industry to indicate when companies in the sector become profitable (an old accounting practice was to show losses in red and profits in black on the ledgers).  Imagine that – it takes almost until the end of … Continued

Present Value and the Price of Oil

In economics, present value is a future amount of money that has been discounted to reflect its current value.  In short, money now is worth more than money in the future. To put the issue in a context that should be familiar to most of us; if you put your house on the market, you … Continued

Just Tell Me What The Rules Are

It is probably fair to say that the “rule of law” is one of the key pillars of our government and financial system.  Wikipedia defines the rule of law as “the legal principle that the law should govern a nation, as opposed to arbitrary decisions by individual government officials”. As investment advisors, we are well … Continued

The Rule of Law

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

Fair Share?

Phil Mickelson, one of the world’s leading golfers, reportedly sent shock waves at last weekend’s golf tournament when he said “there are going to be some serious changes for me because I happen to be in that zone that has been targeted both federally and by the state. And, you know, it doesn’t work for … Continued

Let’s Hope

I hope on this day, the second inauguration of President Obama, that he and the republicans in Congress hold it in their hearts to compromise where needed to advance the cause of ALL Americans. Comments or questions welcomed. Bob Bilkie, CFA