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. … Continued

Is Labor-Force Participation Improving?

We have previously discussed the importance of labor-force participation (see blogs from 09 Jan 2018 , 16 Mar 2018 and 18 May 2018 ). Recent data suggests that the labor-force participation rate has started to improve, probably thanks to a strong economy and significant increases in the de facto minimum wage, to approximately $15 per … Continued

“These Are The Times That Try Men’s Souls”

These words were the first line in the first of a series of pamphlets written by Thomas Payne, during the American Revolution, titled “The American Crisis”. Perhaps a small modification to, “these are the times that try investor’s souls,” might be timely. Investors, and everyone else, is being pummeled by a barrage of, seemingly never-ending, … Continued

Affording A Home

The issue of affordable housing has long been a material factor in political and investment decisions.  During the first quarter of 2018, affordability, as measured by the average share of income needed to buy a median-priced house was at its worst since the third quarter of 2008, according to “Attom Data Solutions”.  Attom is a … Continued