The tanks roll, oil rolls over, and tech roars back! This is not exactly what a rational investor would have expected in the event of a multi-front invasion of Ukraine with Kyiv already under siege.  Perhaps this odd reaction is a function of the feather-light wrist-slap the West has administered to… Read More

Let me be the first to admit, the full-on invasion of the Ukraine is not what I thought was the most likely outcome to this crisis.  It seemed to me, and still does, that this an exceptionally risky military adventure by V. Putin.  The Ukraine is home to some 43,000,000… Read More

Healthcare continues to be one of the largest expenses in retirement. While many other types of expenses tend to fall in retirement – such as entertainment and travel – the cost of healthcare continues to climb and represents a larger percentage of retirees’ budgets. Read More

Another week, another tech wreck.  For growth investors, the echoes with 2000 are becoming deafening.  Battered high P/E stocks, which were down 50% in many cases as of a few weeks ago, just keep on taking a licking.  Yes, they’re still ticking—as in, ticking lower… and lower… and lower.  During… Read More

The election of Donald Trump in 2016 was one of the biggest political upsets in US history. Besides his unlikely victory, another unexpected outcome was that his policies inadvertently led to the first implementation of the economic model detailed in Chapter Six: Modern Monetary Theory (MMT). Initially, though, Mr. Trump’s… Read More

The US economy is on course to undergo two major transitions this year. First, interest rates will go up as the Federal Reserve tightens monetary policy. Second, economic conditions will get more volatile, as the government and the Fed cut back their stabilizing interventions and the private sector resumes prime responsibility for capital allocation. Read More

Do you ever wonder how we got into this mess?  By that I mean the situation where the Fed has printed itself into the tightest of corners, caught between an inflation problem, largely of its own making, and an inability to raise interest rates high enough to fight torrid CPI… Read More

As I hope all EVA Positioning Recommendation (PR) recipients are aware, our normal Evergreen Virtual Advisor newsletters are being switched out for the publication of my book “Bubble 3.0” via the increasingly popular financial social media service, Substack.  If for some reason you are not getting the email links to… Read More

Greetings, EVA and “Bubble 3.0” readers! Thank you for your continuing interest in this project.  Based on the flood of new impressions that have been generated, it does seem like the subject matter is of interest to a broad audience.  That has certainly been my hope but I’m gratified to… Read More

The Most Dangerous Chart on Wall Street? Yes, I admit it.  The following image doesn’t look very scary–especially not compared with many of the market valuation charts such as the one immediately below it showing the towering price-to-sales ratio for the S&P–but please allow me to explain my reasoning.                        … Read More