Stocks vs. Bonds: Stocks Win

Here are two investments I’d like you to consider. The first is a Treasury bond maturing in 10 years. The second is the Standard & Poor’s 500. Think you already know everything there is to know about them? Think again. Let’s start with the bond....

The Sky Isn’t Falling

A generation of investors has been converted to the gospel of equities: Stocks may rise or fall over the short term, but over many decades a diversified portfolio will be the ticket to retirement heaven. The chief prophet of this belief has been Wharton professor...

Hedges Are About to Roll

Hedge funds are the new “dumb money.” At least that’s what so many of my institutional clients are telling me. And they should know, considering they’re hedge funds themselves. Don’t get me wrong. My clients are the larger hedge funds...

Congress Should Repeal the Byrd Amendment.

Have you heard? There’s a war on.No, not the war against terror. Everyone’s heard of that. But we’re also in the midst of a trade war — and chances are it’s affecting your wallet.Last month, Canada slapped a 15 percent tariff on several...

Unhappy Birthday Hawley-Smoot

Only a few economic historians are likely to notice that June 17th marks the 75th anniversary of the signing of the Hawley-Smoot tariff bill, and even economic historians are unlikely to be nostalgic about that disastrous legislation. Why not leave the bad news of the...

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