The good old days. A gallon of gas cost 10 cents. You could buy a house and a car for less than $8,000. Construction of the Empire State Building was completed, and gambling was legalized in Nevada. The country was in the grips of “The Great Depression” and the unemployment rate exceeded 16%.
U.S. stocks are down almost 10% since they peaked September 20th and some investors are starting to act disappointed and concerned. To them we say, “What did you expect? Stocks have increased in value almost nonstop for over nine years. Were you expecting that to just continue and continue?” Did you honestly think that a…
Every week we receive mail inviting us to a “Free Steak Dinner” at a local high-end restaurant. Sometimes twice a week. The offer usually comes with the promise of helping to reduce or avoid taxes in retirement. Virtually all of these free dinners are conducted by financial advisors (we use that term very loosely) whose…
Imagine 100 years from now that Amazon files for bankruptcy. Today, that future seems almost inconceivable given that the majority of Americans use Amazon to shop online. The company blazed the trail of online shopping, and today it is synonymous with U.S. retail. A long time ago, Americans felt the same about Sears. Founded in…
It used to be that most of us gauged stock market performance relative to an index of 500 stocks called the Standard & Poor’s 500 (S&P 500). It may be that the S&P 500 is no longer a good reflection of financial reality. We noted last month that the performance of the S&P 500 is…
