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.
February 11, 2020
With half the stock market’s total capitalization represented in index and ETF funds, it could almost be called a “passive” stock market. But that will never happen. The impact of an individual stock on a portfolio’s performance is too great. Peter Lynch expressed this reality best when he said, “It is not the number of times you are right, but...
January 08, 2020
If you’ve ever watched a TV quiz show called “Jeopardy,” your reaction might have been similar to mine. “Wow, how do they know that? They’re really bright!” Endless facts. Endless “knowledge” about things that I, for one, know nothing about. But it is not knowledge; it’s about an ability to retain information. That’s very different from...
December 09, 2019
It was a dreary fall day as I climbed the stone steps to Marblehead’s cemetery, known as “The Old Burial Ground.” The weather was appropriate. The cemetery, dated 1638, is situated on a hill overlooking the ocean. I was curious what historic names might appear on the tombstones. After all, I live a block from General John Glover’s house. ...
December 04, 2019
Did you know that Americans donated $292 billion to charity last year? This is the third-highest number on record. Their year-end gift strategies...
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