“A stable market breeds complacency. Complacency breeds bad investing behavior. Bad investing behavior breeds regret.” – The Motley Fool’s Morgan Housel “Common sense is not so common.” – Voltaire What’s that smell? If you detect a… Read More

“Most great investments begin in discomfort…bargains are usually found among things that are controversial, that people are pessimistic about, and that have been performing badly of late.” – Howard Marks, one of the world’s finest money managers Wild Woody. Read More

“Never in history have household financial assets been higher relative to the disposable personal income that must support these assets and the humongous debts behind them.” – Ned Davis, founder of Ned David Research (and a stock market bull!)   POINTS TO PONDER 1. Even money… Read More

“It’s not what you look at that matters; it’s what you see.” – Henry David Thoreau “The lack of volatility (in financial markets currently) is eerily reminiscent of the run-up to the financial crisis in 2007-2008.” – Charles Bean, Bank of England Deputy Governor… Read More

Important Disclosures This report is for informational purposes only… Read More

“Get acquainted with your shadow, or find yourself surprised when a crisis emerges.” – M.B. Dallocchio “It’s part of what we call the Shadow, all the dark parts of us we can’t face. It’s the thing that, if we don’t deal with it, eventually poisons… Read More

“Here’s to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… because the ones who are crazy enough to think that they can change the world, are the ones who do.” – Apple co-founder Steve Jobs “The time… Read More

“It is impossible to produce a superior performance unless you do something different from the majority.” – Sir John Templeton, founder of the Templeton mutual fund family (now Franklin Funds) “In recent years, holding cash is so completely out of favor that it has become… Read More

“Asset purchases may act like a sweet poison for the governments. The rude awakening may come when the purchases are reduced or stopped altogether.” – Bundsbank President Jens Weidmann “We may never know where we are going, but we’d better have a good idea where… Read More