It’s Time for a Fire Drill

When I was a kid in grade school we routinely had fire drills rehearsing procedures to be used in case of emergency.  Inevitably, we ended up in the schoolyard on a cold, blustery day.  My classmates and I saw the exercise as a great way to get out of class until one...

2017 Quarter 1 Market Update

“The only investors who should not diversify are those who are right 100% of the time.” Successful investing can be a frustrating endeavor.  All too poignant are the memories of the “Lost Decade” when hapless investors in the S&P 500 Index posted a negative...
Trump, Timing & The Sequence of Returns

Trump, Timing & The Sequence of Returns

“The two most powerful warriors are patience and time.” ― Leo Tolstoy 2016 was a year filled with surprises.  Donald Trump came out of nowhere to win the US Presidency, Great Britain voted to exit the European Union, and stock markets around the globe seemed to love...

Uncertainty is Never Going Away

Britain is leaving the European Union, US deficits are burgeoning, price-earnings ratios push multi-year highs, US stock are tumbling and, oh yeah, the sky is falling. The host of reasons why markets are plummeting is now permeating the financial media. Fear is good...