John Pierpont Morgan was known to have said, “Nothing so undermines your financial judgement as the sight of your neighbor getting rich.” Understanding the bigger picture can help us avoid unrealistic performance extrapolation (both up and down) and stay focused … Continue reading →

There’s an old business axiom “You Are What You Measure” and when it comes to investing, there is no shortage of things to measure: returns, risk, alpha, beta, tracking error, and so on. Each has its purpose. Measuring investment performance … Continue reading →

The last few weeks have been very unkind to gold investors with the rather choppy upward trend since the beginning of 2016 being called into question with a seemingly day after day drop in price. From a technical standpoint, gold … Continue reading →

The most recent monthly jobs report came out last Friday and was solid on most counts. The pundits were very excited about it and used it as an example of how strong the economy is and where it’s likely headed. … Continue reading →

On March 22nd we sent a special edition of our monthly Cadence Clips entitled “Was January 26 the Bull Market Peak?” After that S&P 500 peak of 2,873, the index’s value closed at ~2,581 twice: on February 8th and April … Continue reading →

Any investor who has not been 100% invested in the stock market since March 9, 2009 has missed out on some amount of stock market returns. However, everyone knows very few people should ever be 100% invested in the stock … Continue reading →

As a reminder, there are no completely safe places to invest, as nearly all investments have the potential to lose value at times, but there are almost always some investments that are relatively safer than others. The first step in … Continue reading →

The most important thing to understand when building an investment portfolio is that all investments worth considering can and most likely will lose money at some point. Unfortunately this is just how it works. The key is to make sure … Continue reading →

What we’re experiencing in the financial markets right now is unique while at the same time very similar to previous bull markets. Those contending that this time is different are correct. We’ve never had synchronized global monetary easing on the … Continue reading →

Bubbles are dynamic and as a result, different each time. But one common theme amongst them has been the tendency for interest rates to play a role in their eventual demise. Looking back 30 years, there seems to be a … Continue reading →