The stock market may be bad, but I slept like a baby last night. I woke up every hour and cried… (unknown). In summary, despite its speed and severity, the current market pullback has antecedents in similar market declines over the course of the current bull market [since 2008]. Most importantly, though, there was little  Continue Reading >

Einstein enters Princeton for his first day of work. The Dean leads him to the faculty lounge and begins introducing him to professors. “Here are your first colleagues; they have IQs of over 180”. Einstein says “Wonderful. We can discuss quantum physics”. Another colleague reaches out to shake his hand and remarks “I also lecture  Continue Reading >

After years of scrimping and saving a husband told his wife the good news: “Honey, we’ve finally got enough money to buy what we started saving for in 1979.” “You mean a brand-new BMW?” she asked eagerly. “No,” said the husband, “a 1979 BMW.” And then you have this aphorism: “Modern Slaves Are Not In  Continue Reading >

American capitalism: “You have 2 cows. You sell 3 of them to your publicly listed company, using letters of credit opened by your bank, then execute a debt/equity swap with an associated general offer so that you get all 4 cows back, with a tax exemption for 5 cows. The milk rights of the 6  Continue Reading >

A woman hears from her doctor that she only has 6 months to live. The doctor advises her to marry an economist. The woman asks, “Will this make me live longer?” The doctor answers, “No. But it will seem longer”.- unknown Where are we, at the end of September 2019 and YTD? Sorry for the  Continue Reading >

“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Phillip Fisher Where are we, at the end of June 2019? Last month I talked about May’s decline being a normal pullback in the ongoing bull market, as the averages lost over 6%. In June, that  Continue Reading >