On Being an Intelligent Consumer of Financial News

Being an intelligent consumer of financial news is harder than it sounds.  The day-to-day market is a barometer of investor sentiment more than anything else; it would be wrong to assume that a poor start to the year reflects the current economic trend.  Staying calm during market declines can be difficult, but reacting emotionally is

Time to play defense

As football season is upon us it is appropriate to borrow a sports metaphor and suggest it is time to play defense.  At least that is what several thoughtful commentators suggest. Risk Revisited.  “Memos from the Chairman”—penned by Howard Marks of Oaktree Capital—never fail to deliver thoughtful commentary.  His latest memo cautions that investor behavior

This Week with J. Mark Nickell & Co. – December 4, 2013

Are we in a bubble?  A few clients have asked this recently—a natural one with the major indexes reaching new highs.  The short answer: we’re probably not in a bubble, but cautious investors should consider reducing their equity bets.  The stock market is high because corporate profits are high, and stock prices ultimately are driven