Monthly Archives: October 2016

Earnings Magic Exposed

Following the end of each fiscal quarter, SEC registered corporations release their financial statements. Typically, investors and the media place a lot of importance on these results. Consequently, stock prices tend to rise or fall based on how the financial … Continue reading

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Perception Versus Reality

When asset valuations are extended well beyond historical norms, as they are today, some investment managers elect to take a more defensive and cautious posture than the consensus. In “Bubbles and Elevators”, we discussed how behavioral instincts to follow the … Continue reading

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The Flawed Logic of Inflation

“To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target” – Janet Yellen Chairwoman Federal Reserve “And, beyond that, would a rise in inflation to 3 percent or even 4 … Continue reading

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