A few years ago, a man gave a speech. He told the audience he never imagined that he’d someday be employed by “the argumentative young boy who grew up in my house, eating my food and using my name.” To say the boy was a handful is an understatement. He refused to clean his room and frequently showed up late...
Are we witnessing Tech Bubble 2.0? A lot of people are comparing today’s market to the late 1990s, asking that question. Today, tech shares were sold aggressively, as investors realized profits and moved money to other areas. Wall Street calls this a ‘rotation.’ One of the catalysts was a Goldman Sachs report issued this morning, which said the following: “While...
This video describes recent real estate trends. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date indicated and may change as subsequent conditions vary. The...
“I’m not going to say ‘no’ to an open runway and a thousand-horsepower car—I’m going to go 180. Then he tells me to slam on the brakes and take my hands off the wheel while I’m doing it. In a car I’ve never driven, in a place I’ve never been, going 180 miles-per-hour…. But if the guy who has his...
This video reviews three things investors should know about President Trump’s tax plan. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date indicated and may...
What do Johnny Depp, Mickey Rooney, Burt Reynolds, 50 Cent, and MC Hammer all have in common? (hint: it has nothing to do with pants or hairstyle) The answer is they were all very good at wealth accumulation but very bad at wealth management. Whether it was from irresponsible spending, lawsuits, bad investments, divorce, or some other extraneous factor, everyone...
Early in 2017, the number of retail bankruptcies is spiking to record levels. It's a watershed moment. “What is happening right now is an absolute separation between winners and losers,” says consumer products expert, Steven Barr. While the retailing rich get richer, beleaguered players are dropping like flies. If there were such thing as an ‘Economic Endangered Species List,’ many...
As a student, if you were asked to choose a classmate whose earnings you could have 10% percent of for the rest of your life, which classmate would you have picked? What qualities would cause you to pick them? Would it be the one with the highest IQ? The one who could throw a football the farthest? The one with...
What makes stock prices move up or down are not events, fundamentals, or valuations. These factors matter, but only at the margin. What really moves stock prices is the interplay of supply and demand. The laws of supply and demand explain why original Beatles vinyl records and Picassos are worth so much. Both artists enjoy timeless adoration from all kinds...
Nike founder Phil Knight writes in his memoir, Shoe Dog, “Like books, sports give people a sense of having lived other lives.” Few sporting events have storybook endings like the recent Super Bowl. The New England Patriots overcame a 25-point deficit to defeat the Atlanta Falcons in overtime. It was riveting to watch as the Patriots completed a series of...
As Ian Bremmer aptly said in Time magazine last year, “There are few things in this unstable world that we can project over the long term, but demographics are destiny.” Indeed, demographics are known quantities, which is a rare weapon for those in the investment trade (we rely mostly on history, statistics, and probabilities). Known quantities allow us to make...
Hidden Figures is the remarkable true story of three brilliant African-American women—Katherine Goble Johnson, Dorothy Vaughan and Mary Jackson—who were instrumental to NASA in the early 1960’s. You probably haven’t heard of them. They worked quietly behind the scenes, overcoming a painful mix of racism and sexism. Katherine Goble Johnson was a gifted mathematician who worked as a human ‘computer’...