January 2023 The S&P 500 was, with dividends, down 18.3% in 2022. The bond market was down 12%. Rarely are both stocks and bonds down for...

October 2022 Stocks and bonds continued their 2022 rout in the third quarter. The S&P is now down about 25% for the year, with the bond...

July 2022 This popular description from Hemingway about the way in which a character went bankrupt is how the fall of stocks and bonds...

April 2022 Markets have changed. Inflation is here for the first time in 40 years, and the Fed will fight it by tighter policy. The red...

- Warren Buffett January 2022 2021 was a strong year for large cap stocks, up almost 29%. Select areas like large tech and REITs did even...

October 2021 Through September, stocks are rising this year; bonds are flat. I think that will continue into next year. Consumer demand...

July 2021 Everyone is breathing more easily this summer. We’re eating out again, thinking about the shows we want to go see, and having...

April 2021 The economic re-opening is underway and most economists expect strong GDP growth this year. Everyone knows this. Have stocks...

January 2021 One of my goals this year is to make these letters less wordy. Understanding investing is so important, but the economics...

October, 2020 The “2020 in review” montage videos are going to be longer than usual this year. My brain has been saturated with “breaking...

July, 2020 Had Punxsutawney Phil woken up February 2, checked his portfolio, and gone back into hibernation until June 30, he would have...

Race relations are raw, peaceful protests, riots and even looting seem everywhere, and states and people are ready to open for business...

When shopping, most of us compare items, especially for a first time purchase. Sometimes we stick with what we know, because our...

Remember early March? It was a vacuum of information. Can we trust the reported Covid numbers? If my dad has to go to the hospital, will...

Covid data, government stimulus plans and market reactions are changing daily. I think the worst in market panic and growth rates of...

2019 was a very good year for investors, with stocks up about 30% and bonds up about 9%. It wasn’t because there was a lack of drama on...

Part of me thinks every time I write a letter, the world outside seems more on edge. The status of a trade deal with China. Dire...