• Wizard of Wharton Predicts Permanently Low Rates, A Continuation of the Bull Market

    “Those who predicted a return of double-digit inflation couldn’t be more wrong.” — Jeremy Siegel Last week on Veteran’s Day, I had breakfast at the magnificent old Union League of Philadelphia with Jeremy Siegel, the University of Pennsylvania’s renowned professor | Read More »

  • U.S. Economic Activity Jumps Sharply in Second Quarter 2014

    Gross Output (GO), a broadened measure of U.S. economic activity, advanced to nearly $30.9 trillion in the second quarter of 2014, a 4.8% annualized jump in real terms, the Bureau of Economic Analysis (BEA) reported today.

  • Tuning in the Fed Among the Market Noise

    As I examine global market conditions, it’s always wise to remember the stock market is a forward-looking creature. That means keeping tabs on what’s coming up around the bend — and there are several items to watch for.

  • Why the ‘Barbarous Relic’ Should NOT Be in Your Portfolio

    The economist John Maynard Keynes once famously dismissed gold as a “barbarous relic.” Keynes was actually referring to the gold standard. But his inflammatory description reflected his heartfelt sentiment about gold. Nevertheless, gold has maintained its unique status as both | Read More »

  • Election Results Tee up Opportunity for President Obama

    The 2014 mid-term election results that gave Republicans control of both houses of Congress also position President Barack Obama to pursue a number of objectives that that may not have been possible if Democrats had retained their majority in the Senate.

  • Vanguard’s Low-Expense-Ratio Bond Fund

    Vanguard Total Bond Market ETF (BND) is a bond fund that also ranks as one of Vanguard’s largest ETFs, with $22.8 billion under management as of Sept. 30.

  • Welcome to ETF University

    As you may know, I have been a passionate advocate of ETFs for many years. That advocacy has been expressed extensively in my various publications.

  • Will the Elections Make Any Difference?

    Now that the Republicans have taken over Capitol Hill, can they make any difference? Gridlock is expected for the next two years.

  • Weekend Reading Offers Investment Opportunities

    You can bet that I am an avid reader of studies, reports, surveys, financial statements, filings with the Securities and Exchange Commission, management presentations to investors and pretty much anything else I can find.

  • The Japanese QE Surprise and the Juicing of the Markets

    Just when you thought the financial world would take a much-needed break from quantitative easing (QE), the Land of the Rising Sun comes in and juices up the markets with more QE.

  • Historic Navy-Notre Dame Football Rivalry Survives Conference Realignment

    Navy’s Athletic Director Chet Gladchuk seems to have been prescient when he struck an agreement with his then-counterpart Kevin White years ago to keep the academy’s football rivalry with Notre Dame intact through the 2026 season to guarantee the schools will play each other for 100 consecutive seasons.

  • An Early Take on 2015 and the S&P 500

    A recent note published by Goldman Sachs (GS) called for the S&P 500 to rally to 2,050 by year-end — a 2.8% move higher from last night’s close.

  • Former Fed Chairman Greenspan Makes Startling Admission

    I had lunch with former Fed Chairman Alan Greenspan during the New Orleans Investment Conference.

  • Real Estate Fund Rides Recent Recovery

    With $43.1 billion in assets under management, VNQ is Vanguard’s fourth-largest ETF. Its competitive 0.1% expense ratio is 93% lower, according to Morningstar, than the average for similar funds.

  • The Fed Says Bye Bye to QE

    As was widely anticipated, today the Federal Reserve announced the end of its massive bond-buying program.

  • Warren Buffett Stumbles

    Several of Berkshire Hathaway’s higher-profile public investments have fallen out of bed recently. And the “Oracle of Omaha” has endured several billion dollars in paper losses as a result.

  • Is Bill to Tax Online Purchases Fair or Foul?

    Revenue-seeking local officials who favor the passage of legislation to tax online purchases are running short of time for Congress to enact such a law before it adjourns in December.

  • Fed Jawboning Rides to Rescue the Market… Again

    During the past month, the S&P 500 fell more than 198 points from its peak, and it appears to have hit a potential bottom around 1,820. What helped pacify the market this past week?

  • Krugman Alert: Should the United States Adopt the European Model?

    I recently saw Paul Krugman speak at Westchester Community College, where he made several controversial statements.

  • Vanguard Takes on Developed Markets

    VEA is Vanguard’s third-largest fund by assets under management at $44.46 billion, and its 0.09% expense ratio is less than a quarter of the average ratio for similarly allocated funds.