A Tale of Two Fishers
Phil Fisher is widely credited with being the father of growth stock investing. He started an investment partnership in 1931 and ran it for 60 years. He wrote the book Common Stocks and Uncommon Profits […]
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Phil Fisher is widely credited with being the father of growth stock investing. He started an investment partnership in 1931 and ran it for 60 years. He wrote the book Common Stocks and Uncommon Profits […]
Read moreWe have used this space repeatedly over the past several years to criticize Federal Reserve policy and the significant impacts that it is having on the U.S. economy. As we wrote in June of 2017, […]
Read moreJohn Bogle died earlier this year at the age of 89. According to legendary investor Warren Buffett, Bogle created more wealth for investors than anyone else in history. A few years ago, I wrote an […]
Read moreOne of the top performing companies for the past fifty-plus years has been Berkshire Hathaway (stock symbol BRKA), managed the entire time by Chairman and CEO Warren Buffett. BRKA is a holding company with wholly […]
Read moreAccording to founder and CEO Jeff Bezos, the long-term future for Amazon is that it will fail one day. In one sense, this statement is not remarkable. Nothing is forever. Eventually, every company will fail […]
Read morePreviously published in the 2018 Quarter 4 US Economic Forecast – December 19, 2019 For years, we have been telling anyone who will listen that extraordinary policy experimentation undertaken by the Federal Reserve during the […]
Read moreThe January 4 Federal Reserve Chairs Joint Interview panel at the largest and most prestigious economics conference in the country was a standing room only affair with a massive media presence. I got there fifteen […]
Read moreLate on a Sunday night in September of 2008 the third largest investment bank in the US, Lehman Brothers filed for bankruptcy. The filing followed failed efforts to find a buyer for the company, an […]
Read moreMy last few essays have focused on the 10% upper tail of the wealth or income distribution. People generally acknowledge that the top ten percent are doing great. Perhaps this is true by definition. If […]
Read moreI’ve argued in the past that wealth acquisition is a good thing (provided it does not arise from theft or fraud). There are several reasons for this. The most obvious is that spectacular wealth generally […]
Read moreThe First Law of Economists: For every economist, there exists an equal and opposite economist. The Second Law of Economists: They’re both wrong. -Economist, David Wildasin[1] It has been accurately noted in a number […]
Read moreReprinted from our December 2017 Publication To our great surprise, the Republican legislature appears close to passing tax reform. As recently as the previous forecast publication, we argued that the probability of such reform was […]
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