Greetings From The Land of Brexit

A Happy and Prosperous 2018 to all here! I am writing this from the ancient university town of Durham, in North East England. We are here until the end of March because my esteemed wife is a Fellow at the Institute of Advanced Studies here at Durham University.  The...

read more

Farewell For Now

This will be my last column for 2017 and perhaps for longer than that. Beginning January 1st my wife and I will be living in Europe for the next 7 months. The first 3 months will be at the University of Durham in the UK where my wife will be Fellow at The Institute of...

read more

The Greater Fool Theory

That is more or less what I think about Bitcoin. Somebody stupider than you will buy  it and look for a greater fool. But, hey, I am glad that there is now a regulated exchange for which to hedge one's bets or hedges. I strongly beleive in a regulated options and...

read more

Feeling A Little Altitude Sickness?

I know I am as this incredible Bull just keeps powering north. As a political aside, I don't see why this gawdawful tax bill is so damn bullish. Sure, it cuts taxes on corporations and the uber wealthy but it will absolutely explode the deficit (remember when...

read more

The Market Can Do Anything

The title of today’s column is one of the most important market aphorisms ever. It is literally true that markets can do anything, however seemingly unlikely. I read a lot of options advice online. A lot of it so staggeringly inept that it is mind boggling. It’s...

read more

December Discipline

Welcome to December! The last month of the year is always a strange one as fund managers look more to locking in gains and handling year end tax consequences rather than committing new money. Volume will continue to get thinner as the holidays approach. January, on...

read more

Market Commentary

Sometimes social/political stuff thrown in for good measure