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Category Archives: Economy

Strong earnings propel Dow, S&P 500 to record highs

We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients. – John Bogle, founder of the Vanguard Group Despite rising Covid-19 case numbers caused by the […]

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Strong earnings propel major stock averages to record highs

The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists. – Benjamin Graham It was the tale of two markets last week as all three major stock […]

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Bank earnings strong but stocks close lower on inflation fears

There seems to be an unwritten rule on Wall Street. If you don’t understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product. – Peter Lynch The three major stock averages posted record highs […]

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Stocks close higher despite fears over slowing growth, Covid-19 variant

When navigating the financial markets, the long-term investor must keep in mind the four basic dimensions of long-term return – reward, risk, cost and time – and must apply them to every asset class. Never forget that these four dimensions are remarkably interdependent. – John Bogle The stock market overcame fears that economic growth may […]

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Major stock averages at record highs on positive jobs data

I tell my father’s story of the gambler who lost regularly. One day he hears about a race with only one horse in it, so he bet the rent money. Halfway around the track, the horse jumped over the fence and ran away. – Howard Marks Stocks continued their upward climb last week as all […]

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S&P 500 closes at all-time high as investors shrug off inflation fears

An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative. – Benjamin Graham The Federal Reserve-induced stock market sell-off caused by comments by Fed officials that interest rates would rise sooner rather than later due to rising inflation expectations was short-lived […]

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Stocks fall as Fed raises its inflation expectations

Risk and time are opposite sides of the same coin, for if there were no tomorrow there would be no risk. Time transforms risk, and the nature of risk is shaped by the time horizon: the future is the playing field. – Peter L. Bernstein After beginning the week at record highs, the S&P 500 […]

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S&P 500 closes at record high as investors shrug off inflation fears

It’s 1450 out of 1500 ETF funds that I just wouldn’t touch because they’re not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody. – John Bogle The S&P […]

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Stocks post modest gains as economic data mostly positive

We don’t prognosticate macroeconomic factors, we’re looking at our companies from a bottom-up perspective on their long-run prospects of returning. – Mellody Hobson, President and co-CEO of Ariel Investments In the holiday-shortened week, all three major stock averages closed modestly higher as economic data was mostly positive and contributed to investor optimism about the economy […]

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Stocks post gains despite more troubling inflation data

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. – Warren Buffett In a positive week for the stock market, the Dow Jones Industrial […]

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