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Category Archives: Uncategorized
Three Stock Picking Themes
Investment themes—social and economic trends that provide “tail winds” for certain companies—can last for years and years. Washington is abuzz about “income inequality,” which I highlighted as an investment theme in the late 1980s, advising clients to avoid the “mediocre … Continue reading
Four Equity Errors
Secret NIH-funded research at the Wharton School of Finance in Philadelphia has demonstrated that prolonged exposure to the stock market permanently impairs the prosencephalon diecephaion subthalamus, the part of the human brain that governs good sense and logical thinking. I’m … Continue reading
CBO Highlights ObamaCare’s Assault on Social Mobility
The new CBO Report further underscores a point we have been making for several years—Obamacare hurts employment growth in many ways: CBO concludes that the equivalent of nearly 2.5 million jobs will not be filled because if you earn too … Continue reading
CEO’s Say the Global Economy Is Strengthening
Sometimes I am clueless about what is driving stock prices. In September 2008 I did not sell a share even though my commute took me past the Lehman Brothers building on 7th Avenue, which was being both swarmed by rabid … Continue reading
Posted in Uncategorized
Tagged corporate CEOs, emerging markets, global GDP growth, profit growth
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Mon Dieu! Meme Francois! – Europe Rediscovers Capitalism
When Francois Hollande won the French election back in May 2012, Paul Krugman mocked the media “hysteria” about the victory of a left-wing politician who promised to revive the French economy by raising taxes even higher on wealthy Frenchmen. I, … Continue reading
Posted in Uncategorized
Tagged Euroepean economy, Francois Hollande, French economy, French unemployment, Paul Krugman
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Larry’s “Secular Stagnation” Excuse
Larry Summers disclosed his latest macro insights at an IMF Meeting last November, which he elaborated upon in a Financial Times article: “We may . . . be in a period of ‘secular stagnation’ in which sluggish growth and output, … Continue reading
Emerging Markets for Cowards
In the 1830s British investors spotted an attractive emerging market offering high returns with low risk. The United States was booming, thanks to industrialization in the Northeast, rapid settlement of the Midwest, and expansion of cotton production into new areas … Continue reading
Big Bucks in the War on Poverty
With the poverty rate stuck at 15% for an unprecedented three straight years, everyone is worried about the rise in poverty under Barack Obama. The New York Times just published a book-length expose of the travails of Dasani, a bright … Continue reading
Shame of the (Democratic) Cities
On the Sunday shows Newt Gingrich made a telling point that Republicans should take to heart. After Robert Reich lamely defended the “War on Poverty” as “successful for a time,” Gingrich observed that “Every major city which is a center … Continue reading