“Americans were not put on this earth to become managers of decline.”   -Ronald Reagan  “Humans are…guided by the immediate emotional impact of gains and losses, not by the long-term prospects of wealth.” -Nobel laureate, and behavioral investing pioneer, Daniel Kahneman Blessing counting time.  The stock market is… Read More

“Facts do not cease to exist because they are ignored.” -Aldous Huxley POINTS TO PONDER 1.  Compensation trends are definitely heading the right way for many US workers.  While this is a welcome development for Main Street, it implies profit margin pressure for corporate America at a time when… Read More

“Most of the money you’ll win at poker comes not from the brilliance of your own play, but from the ineptitude of your opponents.” -Lou Krieger “In the business world, the rearview mirror is always clearer than the windshield.” -Warren Buffett Know when to hold ‘em, know when… Read More

“Owners of stocks…too often let the capricious and irrational behavior of their fellow owners cause them to behave irrationally as well.” -WARREN BUFFETT POINTS TO PONDER 1. Various prior EVAs have noted that bull markets rarely last as long as five years (this one will… Read More

“Owners of stocks…too often let the capricious and irrational behavior of their fellow owners cause them to behave irrationally as well.” -WARREN BUFFETT POINTS TO PONDER 1. Various prior EVAs have noted that bull markets rarely last as long as five years (this one will… Read More

“Ahhh, Maggie, in the world of advertising, there’s no such thing as a lie.  There is only expedient exaggeration.”   -Cary Grant, playing Roger Thornhill, in Alfred Hitchcock’s North By Northwest. “When it becomes serious, you have to lie.” -Jean Claude Juncker, in April, 2011, one of the… Read More

“Consider the following simple, almost naïve question: Is it sustainable for an economy, which expands at a real growth rate of 2-3% per year, to provide a return (to investors) of say 10-15% per year?” -Didier Sornette, world renowned mathematician. Read More

“In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price–determined by supply and demand, the same as the price of apples or coal. And it is… Read More

“An emerging market is a market you can’t emerge from in an emergency.” -Don Coxe, for many years one of Canada’s leading portfolio managers and strategists. POINTS TO PONDER 1. The US trade deficit continues to narrow, and this improvement might… Read More

“The typical secular bear market has multiple cyclical phases—and there will be more of these cycles before the current secular bear is over.” -Ed Easterling, author of the highly regarded investment book, Unexpected Returns SPECIAL… Read More