What’s Going On

What’s Going On

The most valuable thing is knowing what’s going on. The country is closing amid Covid cases. Simultaneously, the Shiller PE ratio of earnings in the S&P 500 is 33, a level exceeded in history only at the bursting of the Internet Bubble in 2000. What’s going on?...
On the Skids

On the Skids

If electoral processes lack the drama to satisfy you, check the stock market. Intraday volatility has been averaging 4%. The pandemic has so desensitized us to gyrations that what once was appalling (volatility over 2%) is now a Sunday T-shirt. Who cares? Public...
Serenity

Serenity

On Nov 4, 2020, words commonly associated with a 12-step program come to mind. Protestant theologian Reinhold Niebuhr, who received the Presidential Medal of Freedom in 1964, sometime in the 1930s during the Great Depression is said to have coined the words we today...