There is only one side of the market and it is not the bull side or the bear side, but the right side.
September 09, 2016
“Gentlemen, we must leap over the high wall.” Hearing that, I thought to myself “Huh? What is he talking about?” I was too young (21) – and too poor-- to have an understanding of what this seeming allegory was about. The words were spoken with strong conviction in a heavy Boston Brahmin accent. To me, an Irish kid from...
August 11, 2016
To recall a lunch from 38 years ago, it had to have an emotional impact. This one certainly did. I felt despondent as the lunch began. The guest speaker was the Chief Financial Officer, Norman Rifkin, of Toys R Us. At that time, the toy retailing industry was an eight billion dollar business. Toys R Us was the largest company in the...
July 22, 2016
As I sat in the faculty club dining room with Professor John Sterman I thought, “My God, it’s going to be miserable to go through a long-wave downturn.” Our lunch was 25 years ago. Judging by the current economic and presidential activity, my foreboding was totally justified. Professor Sterman is a professor at M.I.T.’s Sloan School and an...
June 16, 2016
The investment world is experiencing something it has never seen before … a “rolling” bear market. Sector by sector, industry by industry, the market has been declining for a year and a half. Yet, overall the market has not declined! It is a situation that has confused everyone.
The energy and consumer discretionary...
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