Market Update – June 2005

As of this writing, we believe the S&P 500 is roughly 10% below fair value. This surely doesn’t qualify the market as vastly undervalued, especially in light of the significant risks that are out there, but it does provide some cushion. For us, our analysis always...

Market Update – June 2004

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...

What Should I Do Now?

Taking Control of Your Investments in Turbulent Times As the investment markets have dropped significantly from their March 2000 highs, you most likely have watched your portfolio value drop unnecessarily. But at the same time a more worrisome drop may have occurred—a...

Market Update

There are three problems currently facing the economy and markets. First, too much credit was created for individuals, corporations, and government and it needs to be unwound. Individuals and corporations have begun that process and it will continue for several years....

Carpe Annum

As you read the newspaper or listen to the evening news, you hear a litany of reasons explaining our turbulent stock market: the economic recovery has stalled; earnings have disappointed; oil prices are high; deflation seems just around the corner. And to further...