May 2022 To Our Business Partners LONG-DURATION ASSETS This is a fancy phrase for describing financial assets whose cash flows distributed to owners are generally well out into the future. This type of analysis was [...]

April 2022 To Our Business Partners “TOP DOLLAR FOR TOP DOLLAR” This phrase was coined by John Hussmann of the Hussmann Investment Trust. It describes stocks at elevated levels of valuation – high price/earnings ratios [...]

March 2022 To Our Business Partners WARS, OTHER CALAMITIES AND THE STOCK MARKET With the current tragic situation in the Ukraine, it might be useful to examine the history of wars and their effect on [...]

February 2022 To Our Business Partners WHEN “MR. MARKET” MELTS DOWN Vitaliy Katsenelsen is a value-oriented money manager and prolific investment commentator. In his latest “Contrarian Edge” blog, he writes eloquently about “How to Build [...]

January 2022 To Our Business Partners A WEIGHT PROBLEM No, we’re not talking about the inevitable result of bingeing on food and drink over the holidays and finally stepping on the scale. What we’re referring [...]

December 2021 To Our Business Partners WHO SHOULD YOU BELIEVE? Two recent Wall Street Journal articles have caught our attention which, taken together, highlight issues that should concern investors. The first reported that company insiders [...]

November 2021 To Our Business Partners RISK WITHOUT RETURN? Most stocks are now in uncharted territory with most, if not all, stock market indexes valued significantly above what is considered “normal” or average, based on [...]

October 2021 To Our Business Partners SEPTEMBER 30, 1981 On this date 40 years ago, interest rates set a record high, when the benchmark 20-year US Treasury bond yielded a whopping 15.8%. Lesser quality issues [...]