Where's the Boogeyman?  Rising Volatility?

Where's the Boogeyman? Rising Volatility?

With the markets on a roll and volatility still at record lows, my prose may at times appear overly cautious as I assess the markets, but remember that’s my job. Portfolio managers are essentially professional worriers, looking around every corner and under every data point for the hint that a major shift is on its […]

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We Aren't Out of the Woods Yet

We Aren't Out of the Woods Yet

The growth of an economy is dependent primarily on just two factors, (1) the quantity and quality of the labor pool and (2) the amount of available investment capital. With the current unemployment rate, clearly the quantity of the labor pool is not a problem. The quality of that pool is a discussion for another […]

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The Case for Optimism

A friend of mine pointed out what he considered a rather surprising contradiction between what I write in this blog and my usual cheerful and optimistic demeanor, so I thought I’d share just why I still walk around with a considerable sense of optimism. To understand why I am in no way surprised by the […]

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