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Markets

Bringing Home the Bucks Won’t Solve Many Problems

Apple has a lot of cash. At last count, the company’s horde had grown to a record $237 billion. But, as we all know, almost half of that supply is

Central Banks

The Fed Hiked Rate! So What?

As expected the Fed hiked the federal funds rate in their policy announcement following yesterday’s meeting. This was expected – I mentioned the near certainty back on November 21 –

Forecasts

This Blow-Off Trump Rally Looks Real (Damn It!)

Between late 2014 and November 2016, the markets went nowhere. They made no more than a few, very minor, new highs. It looked like a classic head-and-shoulders, rounded-top pattern, with

Investing

Buffett’s Greatest Strength is Discipline, Not Genius

Cliff Asness and Warren Buffett couldn’t be more different. Buffett buys companies. Asness trades stocks. Buffett is a “value” investor. Asness runs a “quant” shop, AQR Capital Management. Buffett is

Innovation

Trump: You’re Fired

The President-elect just fired a member of his transition team for tweeting fake news and the Internet is in an uproar. Yes, the King of Social Media just got real

Demographic Trends

There’s Not a Snowball’s Chance in Hell of 4% Growth!

What the hell are Donald Trump and his new Treasury Secretary, Steven Mnuchin, smoking?! A new supply-side strategy? Just when we have overcapacity everywhere thanks to the greatest debt bubble

Economy

Put Down Your Phone, the Adults are Talking

Dear John, One of my favorite books is the Tao of Pooh – seriously! Have you heard of it? It teaches the Eastern philosophy of Taoism through the story of

Unemployment

Taking a Closer Look at the Latest Employment Numbers

Last week the Bureau of Labor Statistics reported that the U.S. economy created 178,000 jobs – with 156,000 in the private sector and 22,000 in government – which is right

Investing

Searching for Value in the REIT Rubble

Leave it to the stock market to do the exact opposite of what you expect it to do. Following Donald Trump’s surprise win, stocks have spent the past three weeks

Investing

The Next Best Thing to Mr. George’s Magic Ticket

There’s a man in France who owns what the Financial Times is calling a “magic ticket.” In their words: “It lets him turn back the clock, to invest with perfect