“You can observe a lot by just watching” …. Yogi Berra “If you can’t explain it simply, you don’t understand it well enough” … Albert Einstein Where are we, at the end of August 2020? Here are the simple facts:  August was a strong month for stocks – again. We are due for a correction  Continue Reading >

“If you don’t know where you are going, you’ll end up somewhere else”….. Yogi Berra “It’s only when the tide goes out that you discover who’s been swimming naked”…Warren Buffet “The stock market can stay irrational longer than you can stay solvent”… Unknown Clients keep coming to me, wondering where we are going with this  Continue Reading >

From a trader after the market crash: “This is worse than a divorce. I’ve lost half my net worth and I’m still married.” Where are we, at the end of March 2020? There are many things to discuss after the month of March. It was an unprecedented decline in terms of speed and depth (except  Continue Reading >

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 >