Keep Calm and Carry On

Through much up the second quarter, financial markets were shaping up to deliver a solid performance, rising more than 3% since March through early June. Then, »

Par & Market

Forget your opponents; always play against par. - Sam Snead I don't particularly enjoy watching golf on TV. I play golf, in fact it was the »

The Lesson in Forecasts

“We can know more than we can tell.” -Michael Polanyi The New Year's underway, and despite finishing off the final quarter of 2014 with a modest »


The past three months provided investors with plenty of anxious moments. For this we can largely thank geopolitical events in Russia, South America, the Middle East, »

Everybody Does It

"The main purpose of the stock market is to make fools of as many men as possible." -- Bernard Baruch Years ago, the head of trading »

Reading the Last Page First

"Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur »