Monthly Archives: February 2009

There is a reciprocal relationship between how we behave and what we believe. Many of us have an inclination to move from euphoria to despondency , from faith to fear. Financial history has always been a roller coaster ride of … Continue reading →

The concept of trade-offs, that is, receiving more of one “thing” in return for less of another “thing” is a substantive part of economic reasoning. At least it used to be. We now have 24 hours of news- an almost … Continue reading →

Much of the rhetoric and many of the analogies currently being employed by journalists and those in government are historically inaccurate. While each economic period has unique characteristics, the most apt comparison we have is the 1981-82 timeframe not the … Continue reading →

“Absent the ability to forecast changes in economic activity & policy more accurately than the forecasts that are already built into asset prices,investors should maintain an allocation to risky assets that is consistent with their risk preferences & long term … Continue reading →