Blog

Blog 2018-06-01T19:13:27+00:00

Doing Well By Doing Good

By | August 14th, 2018|

One of the greatest things I have seen in the last ten years is the example set by the world’s richest families when it comes to philanthropy. Warren Buffet, Bill Gates and even the young and enormously rich Mark Zuckerberg have all pledged to give away most of their fortunes, amounting to tens of billions of dollars, to charities. Many others have followed their lead.

The Next Recession is Coming. We Have No Idea When.

By | July 31st, 2018|

One of the great goals of economics, ever since the discipline was founded, has been to abolish the business cycle. Economic booms followed by recessions have always been a regular, if unpleasant, feature of life. In the past 90 years there have been at least two global great recessions, and in North America at least 13 other significant recessions. (A recession is a period in which the economy contracts significantly for at least two quarters in a row). On average, there has been a recession, be it great or small, once every six or seven years.

What makes a company great?

By | July 11th, 2018|

When someone is asked to give examples of “great businesses”, the names that typically come to mind are well-known consumer brands such as Apple, McDonalds, or Amazon. Clearly there is something about these businesses that make people think they are great. Ernest Wong discusses the characteristics that we look for in great companies using Moody's as an example.

Un-Liking Facebook

By | April 26th, 2018|

(This blog post was written on March 26, 2018 and included in our client newsletter for Q1 2018)  As many of our clients have undoubtedly noticed, Facebook is currently in a bit of a slump. Its shares are down around 20% from its peak at the beginning of February, and seems to be hit with bad news almost daily.

The Return of Volatility

By | April 12th, 2018|

In the two year period from January 2016 to January 2018 the S&P 500 Index had only one month in which it dropped as much as 1%. That is a remarkable and unprecedented record of stability. During that time span the market rarely moved either up or down more than 1% per day, and for the chart-watchers, never once dropped below its 200 day moving average price.

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