Market Update – July 15, 2008

The first half of 2008 dramatically reinforced the idea that over the short term the stock market is predictably unpredictable. A sharply negative first quarter was followed by two months of positive returns, but the selloff resumed with a vengeance in June, with the...

Irrational Exuberance

Just like the masses that arrive in Vegas daily hoping to win quick and leave before the odds catch up with them, today’s market speculators are playing a losing game. Speculators’ appetite for risk seems insatiable and in contrast to current economic and political...

Market Update – April 2006

Rising interest rates, fear that the housing market may be starting to roll over, a growing current-account deficit, volatile commodity prices, ongoing turmoil in the Middle East—all of these concerns have been on investors’ minds lately. Looking past short-term noise...