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There are plenty of books out there trying to explain why we’re not great with money. Most of them walk you through a checklist of behavioral traps, pointing fingers at our irrational brains and poor decision-making. While those lessons still matter—and it’s still amazing how quickly we forget them when faced with short-term market disturbances—Meir […]

We think the world is a wild place to be an investor right now. What about during the turn of the 20th century? Back then, panics and crashes were a feature of the market, occurring in 1873, 1884, 1893, 1896, 1901, 1907, and 1914. The average loss in U.S. stock market value during those times […]

When I started in the investment business back in the early 1970s, global investing meant looking at a few markets in Europe (mostly London), the Asian market, but limited to Japan, and for the truly adventurous, buying a few British trading firms in the infant Hong Kong market. Today, there are thriving financial markets everywhere […]

“April is the cruellest month…” When T.S.Eliot wrote those words in “The Waste Land”, I’m not sure he had our current calamity in mind, but it feels appropriate given the wild ride that has been April 2025. Trump’s shock to financial markets arrived with showman’s pageantry, complete with Greek symbols, props, and “math” equations. But […]

It has been five years since the World Health Organization declared COVID-19 a global pandemic. Recovering from it, whether on an economic, social, or psychological level, has been a slow and uneven process. Some facets of our daily lives, like sporting events and school calendars, have largely returned to their pre-pandemic traditions. But, as the […]

The Trump administration’s policy actions over the last few weeks have dented confidence in both the U.S. economy and the stock market. This shift towards negativity happened despite President Trump largely sticking to his campaign pledges to implement tariffs and cut government spending. So what has changed since the election to cause the widespread turn […]

The word comes from the Greek, “Adamus,” meaning unconquerable and indestructible. For centuries this was the case. In 1948, Mary Frances Gerety dreamed up the tagline, “Diamonds are forever.” The catchphrase has lasted for more than half a century. But, as with many things in life, forever is not necessarily forever. About 10 years ago, […]

In 2020, as the globe was grappling with the first chaotic year of the pandemic, The New York Times ran a feature on a small shop in Kyoto, Japan called Ichiwa that had been operating for over a thousand years by selling the same toasted mochi it always had. The pandemic had reduced visitors to […]

The number one question we’ve been asked recently is whether stock prices have climbed too high and are due for a fall. It’s the natural question to ask after the S&P 500 reached 57 new highs last year and just had back-to-back years of 25%+ returns – something that has happened only three other times […]

Alcohol purveyors suffered through a tough start to 2025. Dry January, a campaign to get people to abstain from alcohol for the first month of the year, continues to gain momentum with 75 million American adults expected to have tried the challenge this year. Former U.S. Surgeon General Dr. Vivek Murthy piled on with a […]

Investors can be forgiven for tuning out the daily news on America’s ever-evolving trade policies. Hardly a day goes by without reports of either a new proposal or the reversal of an old one. In the face of all this uncertainty, the market consensus seems to be embracing two things. First, trade duties are back […]

No stocks, no bonds, no squiggly lines on graphs this time. Just a moral dilemma which was raised in an article in the year-end edition of The Economist. Here goes. You are sitting on a dock with a rescue rope next to you. You see a man floundering in the water. What do you do? […]