The Aspirational Investor

I often read Jason Zweig’s column in the weekend edition of the Wall Street Journal.  On January 16/17 of this year he discussed the daily swing of the S&P 500 by at least 1% on seven of the first 10 trading days of 2016 and how the impact of that […]


April Investment Comments

The S&P 500 spooked investors by dropping 10% in the first three weeks of 2016.  After seven straight years of positive total returns for the S&P, it looked like the jig might finally be up this year.  However, the index has rallied sharply, starting in early February and is now […]

Why Stocks are Always Down

Why are my car keys always in the last place I look?  Because I stop when I find them, of course. How come if I have a 50/50 chance of pressing the correct button on the cable box, pulling the correct lever to pop my car’s hood, or spinning my […]

March Investment Comments

So far this year global markets are unsettled and grinding lower.  The U.S. stock market has crossed over the loss threshold of 10% since July of last year, the definition of a “correction.”  While stocks tend to be a reasonable predictor of future economic performance, there is a famous quote […]

Interest Rates and Oil

By the time you receive this month’s Investment Comments, you have probably learned there is finally a new chapter in the multiyear drama over interest rates.  The Federal Reserve last raised rates in 2006, cutting them down to zero in 2008 at the height of the financial crisis.  Rates have […]