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blog Institutional
Investment
Management
 /  Admin

Recent Thinking

We've been relatively quiet on the blog front over the last week. The good news is that we received funding for a new foundation account and have been busy picking our spots and getting it invested. (It's a great t... read more
blog Wealth
Management
 /  Admin

Valuations at Extremes

I am a big believer in the view that valuations are rarely a useful tool for investors except in those cases when they reach extremes. I think we are in one of these cases today. As you may recall, many technology ... read more
blog Institutional
Investment
Management
 /  Admin

Finish the Race

The markets plunged yesterday, retesting the lows hit a couple of weeks ago. Retests are typical in bear markets, but this one came quicker than might have been expected. Over the last few days the guests on CNBC's... read more
blog Wealth
Management
 /  Admin

Joke

From an unnamed British trader: read more
blog Institutional
Investment
Management
 /  Admin

Market Retests Prior Lows

The stock market is selling off aggressively today, retesting the lows hit in the last two weeks. Earnings season is well underway and while guidance is universally cautious, companies that have strong balance shee... read more
blog Institutional
Investment
Management
 /  Admin

Buffetology

From a friend in the business: The ratio of stock market value to U.S. GDP has fallen to 78%. This is based on the latest estimate for GDP at $14.3 trillion and U.S. market cap of about $11.2 trillion. The reason t... read more
blog Institutional
Investment
Management
 /  Admin

True Value

Over the summer, the price of oil spiked to $145 per barrel. Many folks said that the move from $90 to $145 at the time was based on the strong fundamentals of emerging market demand. As our readers know, we believ... read more
blog Financial
Planning
 /  Admin

Saturday Night Live, Late Thursdays

The markets didn't finish up on the day, but did stage a massive late day rally, closing well off their lows. For those who could use a good laugh (and who couldn't!), check out Thursday's video from Saturday Night... read more
blog Wealth
Management
 /  Admin

FDR's First Inaugural Speech, March 4, 1933

Excerpts of this speech from FDR came across my desk this afternoon. Some of the points echo comments we made in yesterday's Economic Update and are in many ways exactly what the nation needs to hear from its futur... read more
blog Financial
Planning
 /  Admin

Weighing In

We've been a bit quiet over the past few days, but in no way have we been sitting still. We've been very busy writing and calling our clients, trying to shed some light on what we're going through right now, our in... read more
blog Financial
Planning
 /  Admin

Dr. Seuss

I usually read a book or two to Johnny -- my five year old -- before bed every night. This page from Dr. Seuss captured the events of last week perfectly. So much so, that I had to share. Here's to better weeks ahe... read more
blog Wealth
Management
 /  Admin

Quote of the Day, Franklin D Roosevelt, March 12th, 1933

"We have had a bad banking situation. Some of our bankers had shown themselves either incompetent or dishonest in their handling of the people’s funds. They had used the money entrusted to them in speculations and ... read more
blog Financial
Planning
 /  Admin

My Bailout Plan

Here's my idea for a bailout plan. We all know that the banks need liquidity. We also all know that there is a huge surplus of assets in many contribution based retirement plans and in particular, IRA and IRA rollo... read more
blog Wealth
Management
 /  Admin

Quote of the Day, WSJ 9/25/08

Mr. Buffett received a call at 4:30 p.m. that Saturday from a private investment firm trying to assemble a group to buy the embattled financial giant. "I'm calling about Bear Stearns,'" the private investor began, ... read more
blog Financial
Planning
 /  Admin

Ask Not What Your Country Can Do For You...

For several days now, I've been waiting for one of our country's leaders to stand up and speak President Kennedy's famous words, "Ask not what your country can do for you, but what you can do for your country." In ... read more
blog Institutional
Investment
Management
 /  Admin

Current Thoughts

It still boggles my mind that the markets actually closed up last week. Including yesterday, the markets have had moves either to the upside or downside of at least 2% for six straight days. (rounded) So far today,... read more
blog Institutional
Investment
Management
 /  Admin

Never A Day Like This

I don't think I have ever quite experienced a trading day like this. Things were just awful for most of the day and the financial index was down as much as 5% at the worst point and is now up nearly 9%. Around 1pm,... read more
blog Institutional
Investment
Management
 /  Admin

Economic Update Haiku

The Market's Goofy Down Four Percent, Disney Up Thank God for Mickey read more
blog Wealth
Management
 /  Admin

In Memoriam of Sir John Marks Templeton

CFA Magazine reminded me today of Sir John Templeton's death in July at the ripe age of 95. As many may know, John was a legend and pioneer in the field of international investments. He was also knighted in part fo... read more
blog Institutional
Investment
Management
 /  Admin

What Happened Today

As everyone knows, the markets got killed today. Each of the primary market indices were down over four percent, with financials leading the way on news that Lehman Brothers declared bankruptcy and Merrill Lynch wo... read more
blog Wealth
Management
 /  Admin

Remembering 9/11

We published this entry about this time last year after hearing a speech from 9/11 survivor George Sleigh. We've decided to republish it today in memory of all those affected by the tragedy. May God bless you and c... read more