Advantage Gambling

Sports gambling is a hot topic right now.  On May 14, by a 6-3 decision, the Supreme Court overturned a federal law that effectively outlawed most sports gambling.  The law included a few exceptions, the broadest being granted to Nevada. New Jersey, the home of Atlantic City, challenged the law […]


June Investment Comments

Investors in 2018 haven’t had much to cheer about.  The stock market is about flat.  The resumption of normal volatility seems abnormal because prior years were so placid in comparison.  Normally investors can seek relief in the bond market, but with both the Federal Reserve and a stronger economy pushing […]


May Investment Comments

To date, one could make the case that the return of volatility is the market story of the year.  The Cboe Volatility Index, or VIX, spiked in February to a high of 50 before settling in at a level below 20. Despite the February surge, the current level of the […]


Tax Law Changes that May Affect You

  Single Filers Old Law   New Law Tax Bracket Taxable Income   Tax Bracket Taxable Income 10% Up to $9,325 10% Up to $9,525 15% $9,326 – $37,950 12% $9,526 – $38,700 25% $37,951 – $91,900 22% $38,701 – $82,500 28% $91,901 – $191,650 24% $82,501 – $157,500 33% […]


April Investment Comments

Stock investors as a group seem like a bunch of manic depressives, present company excluded of course.  We worry when the economy doesn’t grow much because recessions accompany bear markets and we certainly don’t like those.  But we also fret when the economy does too well because that could result […]


Misadventures in Volatility

When the stock market fell 10% recently the biggest losers weren’t stock investors but rather volatility sellers.  Stock investors can’t be seriously harmed by a simple correction.  Even aggressive, margined investors can survive a 10% decline.  Brokers are smart enough not to make margin loans that become potentially uncollectible in […]


March Investment Comments

After two years of a steadily rising stock market it finally happened: the dreaded correction.  Corrections are defined as at least a 10% drop in market value after achieving a peak.  On Thursday, February 8th the Dow Jones Industrial Average finished the day at 23,860.46, down 10.4% from its peak […]


Bitcoin Smells Like a Tulip

Tulips are a beautiful flower with a rich history.  They were introduced to Europe in the mid-1500’s from the Ottoman Empire.  They gained popularity in what became the Netherlands in the late 1500’s and became a status symbol due to their unique colors.  After a virus caused petals to incorporate […]


January Investment Comments

The S&P 500 has continued its run, returning more than 17% year-to-date through November.  The steady rise this year, with only modest turbulence, has increased the number of market observers highlighting an “overheated” market where investors have become complacent.  Not to completely dismiss these concerns, but a fact-based analysis helps […]