We are being told that governments are doing everything they can to save us from doom. If we are going to be facing real doom, it is the treatment, not the cure that will bring it on. With each passing day, the hyperbole surrounding our response to COVID-19 just keeps growing, like a cancer. In […]
We should not just take a standardized approach to advising people on their retirement money, because the circumstances vary so much. This does not stop us though. The way that we advise those who are saving for retirement or are in retirement is in great need of revision. There is so much work that needs […]
Wednesday’s trading saw stocks, treasuries, corporate bonds, gold, and oil all get hammered. The only game in town right now is to ride with the bears, not the bulls. No matter how much something has gone down or how quickly it is going down, there has to be someone that holds long positions in it. […]
People are becoming more terrified each day of the health threat they believe COVID-19 is. The health risks aren’t scary at all, but the economic damage gets scarier each day. When COVID-19 became perceived as a big enough threat to lockdown Hubei Province in China, we knew that their economy would take a meaningful hit, […]
Among those with very little understanding of how to invest, the errors that analysts make can escape them. The mistakes they are making these days are much more glaring. Scott Black is nothing if not experienced. He founded Delphi Management back in 1980 and has been at the helm as president ever since. His firm […]
Quantitative analysts, called quants, employ mathematical and statistical models to understand things. Two of them are now stepping up to provide investors with their insights. Quantitative analysis is used in many fields to seek to understand various processes by seeking to quantify data and provide models. They are particularly widely used in the world of […]
University endowments have been earning returns that have well underperformed stocks, due mostly with their fascination with private equity. They happily fail though. University endowments manage a total of $840 billion in funds these days, and coming in with returns that have averaged 6.3% less than the S&P 500 over the last 10 years should […]
Whether or not there is an actual emergency in the United States right now, President Donald Trump has declared one, to provide him access to up to $50 million by his own pen. Looking back on how COVID-19 has played out around the world so far, it shouldn’t surprise us too much that this has […]
Up until this week, the Dow has never lost 1200 points in a single day. We’ve done this three times this week, including hitting the new record on Thursday where we lost 10%. We use a 20% decline to define a bear market, although this is just an arbitrary number and we could have chosen […]
Individual investors have been challenged plenty by the current stock crisis, and this has been all the more painful for mutual fund managers, even though they may not feel it. The current correction in stocks that we’ve been under over the last three weeks have been pretty painful for everyone who remained on the long […]