Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.
January 27, 2016
An economic paradigm shift occurs over a long period of time. As a consequence, it is often not recognized by most people as it is happening. This seems to be the present situation with China. It is not until a new paradigm reaches an inflection point of change that it becomes obvious ... at least to some. My belief is that we in the...
January 21, 2016
Market Update
January 14, 2016
We are sending this note to give you our perspective on the recent global market turmoil and volatility. We realize these periods can be very unsettling and stressful. It’s difficult to keep your cool when the 24/7 news cycle is on high alert as these events unfold. While...