regime shift

A New Age of Uncertainty

Donald J. Trump will take the oath of office Friday, January 20.  This fact is disorienting for many but viewed as promising by others. Trump’s election is part of the larger picture, that we live in a new age of uncertainty, suspended between an old order and a new one being formed. "Business as usual"

Emotion Trumps Rationality

As Ben Graham said, ‘In the short-run the market is a voting machine—reflecting a voter-registration test that requires only money, not intelligence or emotional stability—but in the long-run the market is a weighting machine.’ Warren Buffet - Letter to Berkshire Hathaway Shareholders (1992) All the major U.S. Indexes surged to new highs last week.  It