What The Coronavirus Tells Us About Stocks and Bonds

What The Coronavirus Tells Us About Stocks and Bonds

Occasionally, the arrival of something unusual provides an opportunity to dispel lazy thinking about how things really work. The unusual is the coronavirus. The lazy thinking has to do with how stocks and bonds interact. This undoubtedly seems like an odd connection, but it can help clarify some important points about markets that, pardon the… Continue Reading

We Are All Active Investors Now

We Are All Active Investors Now

Strategic asset-allocation decisions determine most of an investment portfolio’s subsequent return. Investors need to focus more on the composition of their portfolios and worry less about whether they are actively or passively managed. Continue Reading

What to expect from 2019’s ‘post-peak’ economy

What to expect from 2019’s ‘post-peak’ economy

Originally published to CNN Business | December 9, 2018 Twelve months ago, investors were giddy.Markets were buoyant, supported by synchronous global growth and market-friendly US policies, including freshly minted corporate tax cuts and deregulation.What a difference a year makes. As 2018 draws to a close, investors are unsettled, volatility is spiking and most portfolios are… Continue Reading

Copycat Capitalists

Copycat Capitalists

Given the West’s anemic growth performance in recent years, it is hardly surprising that envy of China’s economic dynamism has manifested itself in official policy. But Western countries are shifting to statism at the very moment that China is heading in the opposite direction. Continue Reading