Britain Votes to Leave the European Union June 24, 2016 Categories: Central Bank, Federal Reserve, Monetary Policy Many of us awoke this morning to the news of the British decision to leave the European Union. After a marriage of more than four decades, 72% of voters turned out to “leave” the EU by a slim margin of 52% to 48%. No doubt, the people have spoken. The vote also propelled the British Prime Minister David Cameron to resign. Read more
Perseverance in Down Markets May 4, 2016 Categories: Asset Allocation, Bull Markets, Cash, Emerging Markets, Investing The first Sunday in April is always one of my favorite days of the year as it typically marks the final round of The Masters Golf Tournament. This year, defending champion Jordan Spieth entered the final 9 holes of the golf tournament with a 5 shot lead. He had been flawless through 63 holes and it was almost a foregone conclusion that he would march through the final 9 holes and be the first back-to-back champion since Tiger Woods in 2001-2002. He bogeyed 10 and 11. Then he stepped to the tee of the famous 12th hole, a 155-yard par three, the middle hole of the vaunted “Amen Corner.” The typical Sunday pin placement on the front-right side of the green tempted Spieth and he promptly deposited two balls in Rae’s Creek and went on to post a quadruple bogey. He would never recover and finished 2nd Read more
Shifting Sands January 13, 2016 Categories: Baseball is a funny sport. Just when you thought you have seen everything, something happens in the course of a game that has never happened in the history of the sport. The same could be said for the stock market. Read more
Short-Termism October 13, 2015 Categories: What does Vanguard’s CEO, a portfolio manager, and an economist have in common? They all agree investors focus way too much on the short-term. Read more
