Last week, Laura Carley and I attended the 69th CFA Institute Annual Conference in Montreal. Over 2,000 Chartered Financial Analysts gathered from 70 different countries. It was like a big global nerd convention. It turns out that nerds from other countries are a lot like nerds from the USA. There are always a few good(…)

The first quarter of 2016 appeared to be a non-event in the stock market. The S&P 500 gained a little over 1%. Foreign stocks declined just a smidge. No big deal, right? Unless you were backpacking in the Himalayas with no internet access, you know that the first quarter was anything but a non-event. January(…)

Gold has been on a tear lately. It is exciting for all those “investors” (I use that term loosely) who perpetually think the investment world is ending to see the price of gold cease its relentless descent. Gold has frustrated doomsday investors. After peaking in 2010 at almost $1,900 an ounce, its price plummeted more(…)

Blame China

Wednesday, 10 February 2016 by

January stunk it up. The first two weeks of January really reeked. January stunk it up so badly that it made 2015 smell good. And February is starting out like it wants to make January smell good. After the first two weeks of January, U.S. markets were down about 8%. Foreign markets were slightly worse.(…)


Tuesday, 12 January 2016 by

No, I’m not talking about the Philadelphia 76’ers or the Titanic. I’m talking about the stock market in 2016. In the first week of trading this year, the Dow Jones Industrial Average declined 6.2%. Foreign stocks (the MSCI All World Index ex-US) declined 5.8%. According to pundits on CNBC that is the worst 5-day start(…)