EDMOND — Political consultant James Carville once said, “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.” Of course, what he meant was that bond prices and yields ultimately have a major influence on economic activity.
EDMOND — Political consultant James Carville once said, “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But no....
EDMOND — Political consultant James Carville once said, “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.” Of course, what he meant was that bond prices and yields ultimately have a major influence on economic activity.
EDMOND — Political consultant James Carville once said, “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But no....
EDMOND — The following is a repeat of a Thanksgiving column I ran several years ago, but the message is still fresh and relevant today.
Thanksgiving is a wonderful holiday that brings friends and families together. Food and football are often the order of the day, as well as catching up on the all the latest. It also gives us an opportunity to take a break from our busy lives to contemplate the things we are thankful for.
EDMOND — The following is a repeat of a Thanksgiving column I ran several years ago, but the message is still fresh and relevant today.
Thanksgiving is a wonderful holiday that bri....
EDMOND — “The beat goes on, the beat goes on. Drums keep pounding a rhythm to the brain. La de da de de, la de da de da.” Those lyrics from Sonny and Cher’s 1967 song might be a good description of the ongoing sovereign debt story in Europe and the wild stock market swings.
EDMOND — “The beat goes on, the beat goes on. Drums keep pounding a rhythm to the brain. La de da de de, la de da de da.” Those lyrics from Sonny and Cher’s 1967 song might ....
EDMOND — Unless you’ve been living in a cave somewhere, you are probably aware of the protests going on around Wall Street by a movement now known as Occupy Wall Street. It started a couple of months ago and has spread across the country and internationally. While it has become fashionable among some to see the protesters as an entertaining sideshow, like a flash mob for slackers seeking to lock arms with anti-establishment kooks, there is more to it than that.
EDMOND — Unless you’ve been living in a cave somewhere, you are probably aware of the protests going on around Wall Street by a movement now known as Occupy Wall Street. It started a co....
Tis the season again. Well, almost anyway. No, not that season. The season of the stock market when you need to come back. Last April I wrote a column about an old Wall Street saying that says “Sell in May and go away.” (See “Is this the Beginning of the Selling Season?” April 16, 2011, The Edmond Sun.) Then you’re supposed to come back and buy again in November. Does it really work? Not always, but more yes than no.
Tis the season again. Well, almost anyway. No, not that season. The season of the stock market when you need to come back. Last April I wrote a column about an old Wall Street saying that says &ldq....
In the 1978 “Superman” movie, Lois Lane falls out the window of a tall building, on her way to certain death. Superman swoops in at the last moment to save the day. Superman proudly says, “Don’t worry Lois, I’ve got you.” Of course, Lois replies with that great line, “You’ve got me? Who’s got you?”
In the 1978 “Superman” movie, Lois Lane falls out the window of a tall building, on her way to certain death. Superman swoops in at the last moment to save the day. Superman proudly sa....
There is an old saying in the investment world that says, “Don’t fight the Fed.” What it means is you need to be sure that your investment positions are not at odds with what the Federal Reserve is trying to do with monetary policy. After all, they’ve got the biggest checkbook and they’ve got the money printing press, too.
There is an old saying in the investment world that says, “Don’t fight the Fed.” What it means is you need to be sure that your investment positions are not at odds with what the ....
Well they finally did it — raised the debt ceiling. Now everything is cool again and we can all go back to enjoying life and watching the economic recovery unfold. Well, maybe not. While everyone was focused on the political circus in Washington and our self-inflicted shot in the foot, it seems that the stock market went back to focusing on things that matter — like a slowing U.S. and global economy and sovereign debt issues that just won’t go away.
Well they finally did it — raised the debt ceiling. Now everything is cool again and we can all go back to enjoying life and watching the economic recovery unfold. Well, maybe not. While ever....
“If you start me up; if you start me up I’ll never stop. I’ve been running hot. You got me ticking, gonna blow my top. If you start me up; if you start me up I’ll never stop. Never stop, never stop, never stop. You make a grown man cry.”
“If you start me up; if you start me up I’ll never stop. I’ve been running hot. You got me ticking, gonna blow my top. If you start me up; if you start me up I’ll never stop....
EDMOND — You have no doubt heard the concerns over Greece and whether they might default on their government debt. Their bonds have been downgraded to junk status by S&P and the interest rate on short-term Greek bonds is more than 20 percent. When a country has to pay more than 20 percent to borrow money, you know there is extreme worry that the money will not be paid back. Until this happened, I used to joke that the only people who got more than 20 percent on a loan was the mafia.
EDMOND — You have no doubt heard the concerns over Greece and whether they might default on their government debt. Their bonds have been downgraded to junk status by S&P and the interest....
June 3, 2011 - A recent Associated Press headline read, “Late Credit Card Payments Hit 15-Year Low.” Late credit card payments are at their lowest levels since the late 1990s — the last time our economy was in a full-blown boom! The rate of payments 90 days or more delinquent dropped to 0.74 percent in the first quarter. This is a reduction of almost half from the highs seen in the first quarter of 2009, during the peak of the meltdown and credit crisis.
June 3, 2011 - A recent Associated Press headline read, “Late Credit Card Payments Hit 15-Year Low.” Late credit card payments are at their lowest levels since the late 1990s &mda....
May 20, 2011 - “I’ve always depended on the kindness of strangers.” So said Vivian Leigh in her role as Blanch in the Tennessee Williams play “A Streetcar Named Desire.” We might say the same thing in the U.S. as we have depended on foreign countries to buy our debt and finance our excessive spending. Now the problem is coming to a head as we wrestle with how to deal with it. One of the discussions front and center now is the debate over the national debt ceiling and whether to raise it or not. For those who like political dog fights, this is like the Super Bowl.
May 20, 2011 - “I’ve always depended on the kindness of strangers.” So said Vivian Leigh in her role as Blanch in the Tennessee Williams play “A Streetcar Named Desire.&rdqu....
May 6, 2011 - Some things just never change. A few years ago the major financial firms created a devastating financial crisis and meltdown that harmed the country and global economy. This wasn’t the first time, of course. Think about the S&L crisis in the early ’90s and many others before. Once again investigations were held but no one was punished, and once again regulations were promised that would prevent it from ever happening again. And once again those regulations were so watered down that nothing much has changed.
May 6, 2011 - Some things just never change. A few years ago the major financial firms created a devastating financial crisis and meltdown that harmed the country and global economy. This wasn&rsqu....
April 15, 2011 - ‘Tis the season. No, not that season. The season of the stock market when you need to go away. Well, almost, anyway. There’s an old saying about a trading pattern on Wall Street that says “Sell in May and go away.” Then you’re supposed to come back and buy again in November. Does it really work? Yes and no.
April 15, 2011 - ‘Tis the season. No, not that season. The season of the stock market when you need to go away. Well, almost, anyway. There’s an old saying about a trading pattern on Wa....
April 1, 2011 -- Depending on your point of view, you may or may not be too happy with Fed Chairman Ben Bernanke and all the money printing going on at the Federal Reserve. Consider the story of John Law, the Scottish adventurer who, as France’s first central banker in the early 1700s, became the most powerful man in international finance — and the wealthiest man in the world — before having to flee penniless into exile and obscurity.
Read more>>
April 1, 2011 -- Depending on your point of view, you may or may not be too happy with Fed Chairman Ben Bernanke and all the money printing going on at the Federal Reserve. Consider the story of Jo....
March 18, 2011 -- In June 2008 I wrote a column about the economic impact of ethanol blended with gasoline. I described what a terrible mistake tax subsidy for ethanol was. Nothing much has changed. Ethanol has been the great hope in certain circles in terms of decreasing our dependence on oil. In my opinion, it was never a good idea at all.
Read more>>
March 18, 2011 -- In June 2008 I wrote a column about the economic impact of ethanol blended with gasoline. I described what a terrible mistake tax subsidy for ethanol was. Nothing much has changed....
March 4, 2011 -- Oscar Wilde once said, “Experience is the name everyone gives to their mistakes.” If that is true, many people have gained a lot of investing experience during the past 10 to 20 years. In a previous column I discussed the significance of secular (i.e. long-term) bull and bear markets. Contrary to what you might think, secular bear markets don’t really trend down as much as they move sideways for long periods of time, with lots of mini bull and bear markets bouncing around in between.
Read more>>
March 4, 2011 -- Oscar Wilde once said, “Experience is the name everyone gives to their mistakes.” If that is true, many people have gained a lot of investing experience during the past....
February 18, 2011 -- Last November I wrote a column titled “Serious Talk about Fixing the Budget Deficit.” Everyone likes the idea of fixing the budget deficit, but there is this little matter of actually doing it. Everyone wants to cut government spending, but no one wants whatever is important to them cut.
Read more>>
February 18, 2011 -- Last November I wrote a column titled “Serious Talk about Fixing the Budget Deficit.” Everyone likes the idea of fixing the budget deficit, but there is this little....
February 4, 2011 -- Investors and businesses experienced plenty of ups and downs in 2010. The global economy, as I see it, is in a period between two crises. In 2007-08 we had the global credit crisis, the private-sector banking crisis and the bursting of the real estate bubble. Now we are in a period of cleanup with a respite from the chaos. Here are my thoughts for 2011:
Read more>>
February 4, 2011 -- Investors and businesses experienced plenty of ups and downs in 2010. The global economy, as I see it, is in a period between two crises. In 2007-08 we had the global credit cri....
January 28, 2011 -- “Is that all there is, is that all there is? If that’s all there is my friends, then let’s keep dancing. Let’s break out the booze and have a ball.”
Perhaps those words from Peggy Lee’s 1969 hit song “Is that all there is?” are an appropriate opening for my annual predictions column. Read more>>
January 28, 2011 -- “Is that all there is, is that all there is? If that’s all there is my friends, then let’s keep dancing. Let’s break out the booze and have a ball.&rdquo....
January 7, 2011 --Risk is a funny thing. Everybody loves it when it works out, but it can be quite painful when it doesn’t. I learned a lot about risk from a cat named Vern. Vern was a cat I had years ago; or I should say that Vern had me. He wasn’t anything special; just an ordinary gray barn cat. But he was special to me and made me smile and laugh a lot. I loved that old cat.
Read More>>
January 7, 2011 --Risk is a funny thing. Everybody loves it when it works out, but it can be quite painful when it doesn’t. I learned a lot about risk from a cat named Vern. Vern was a cat I ....
December 3, 2010--Some of us consider ourselves contrarians. It comes from the belief, mostly true, that when almost everyone believes in a certain investment idea, the show is probably just about over. We like to think of ourselves as never wrong; we’re just sometimes early. At least that’s what we keep telling ourselves. It’s tough being a contrarian because, even when you’re right, you often have to endure a lot of pain until proven right.
December 3, 2010--Some of us consider ourselves contrarians. It comes from the belief, mostly true, that when almost everyone believes in a certain investment idea, the show is probably just about ....
November 19, 2010--“Tomorrow, and tomorrow and tomorrow, creeps in this petty pace from day to day, to the last syllable of recorded time; and all our yesterdays have lighted fools the way to dusty death.” Those lines, of course, come from Shakespeare’s “Macbeth.” It speaks of despair. Those words might also be used to describe the despair that many Americans feel as they have watched in frustration the way their political representatives have handled our economic situation and out-of-control deficits.
November 19, 2010--“Tomorrow, and tomorrow and tomorrow, creeps in this petty pace from day to day, to the last syllable of recorded time; and all our yesterdays have lighted fools the way to....
November 12, 2010--For several years now I have written about demographics and the effect it can have on businesses. I have talked about Harleys, Twinkies, Lingerie, Barbie and now German beer.
November 12, 2010--For several years now I have written about demographics and the effect it can have on businesses. I have talked about Harleys, Twinkies, Lingerie, Barbie and now German beer.
....October 29, 2010--“You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don’t you call me ’cause I can’t go. I owe my soul to the company store.”
October 29, 2010--“You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don’t you call me ’cause I can’t go. I owe my soul to the compan....
October 16, 2010--“Life is hard. It’s a lot harder if you’re stupid about it.” This not-so-delicate comment comes from “the Duke” — John Wayne. I’m not sure how much the Duke knew about the stock market, but we can probably apply this to the way some people approach investing. Many people fall for every lame-brained comment they just saw on television or some blog. Be careful not to confuse entertainment with actual useful news.
October 16, 2010--“Life is hard. It’s a lot harder if you’re stupid about it.” This not-so-delicate comment comes from “the Duke” — John Wayne. I’m n....
October 8, 2010--Detroit — Alice laughed. “There’s no use trying,” she said. ”One can’t believe impossible things.”
October 8, 2010--Detroit — Alice laughed. “There’s no use trying,” she said. ”One can’t believe impossible things.”
September 24, 2010--We’ve all heard the expression, “It’s like rearranging the deck chairs on the Titanic.” Contrary to some rumors, I wasn’t there — but I get the concept. The underlying meaning we all understand is doing something that makes no difference in the final outcome. Here are a couple of “rearranging” examples. September 24, 2010--We’ve all heard the expression, “It’s like rearranging the deck chairs on the Titanic.” Contrary to some rumors, I wasn’t there — but I get t....
September 10, 2010--I had a dream recently. I dreamed that the President of the United States and Congressional leaders decided to shut up and stop messing with the economy. (Not this administration; any administration past, present or future.)
September 10, 2010--I had a dream recently. I dreamed that the President of the United States and Congressional leaders decided to shut up and stop messing with the economy. (Not this administratio....
August 20, 2010--“Well, baby used to stay out all night long. She made me cry, she done me wrong. She hurt my eyes open, that’s no lie. Tables turning, now her turn to cry. Because I used to love her, but it's all over now.” Those words come from one of the great philosophers of our time, Mick Jagger of the Rolling Stones. I’ll bet you never thought of Mick in economic terms. But we probably can use his words to describe our relationship with the booming economy that has long since fizzled out. It was a wild ride and it was fun while it lasted; but it’s all over now.
August 20, 2010--“Well, baby used to stay out all night long. She made me cry, she done me wrong. She hurt my eyes open, that’s no lie. Tables turning, now her turn to cry. Because I us....
August 6, 2010--ave you ever been in a situation where you feel like you just got cheated, but you’re not quite sure how? Well, here is another one. Perhaps you have heard about “Build America Bonds.” Sounds kind of patriotic, doesn’t it? I hope you like the theme because you’re paying for it.
August 6, 2010--ave you ever been in a situation where you feel like you just got cheated, but you’re not quite sure how? Well, here is another one. Perhaps you have heard about “Build ....
July 23, 2010--For those of you old enough to remember, or maybe you saw some re-runs of the Ed Sullivan Show in the 1950s and ’60s, there were occasionally juggling and balancing acts on the show. Every so often there was an act where a guy would spin plates on the top of some long, spindly sticks. He would start with one and place a plate on top and start it spinning. Then he’d move onto the next and the next, to eventually have as many as a dozen or so spinning at once. Of course, the challenge was that as he got more and more going, he had to constantly run back and forth to keep all the previous plates spinning before they crashed on the ground. The suspense was tremendous and you would be on the edge of your seat wondering if he would get them all spinning before some fell.
July 23, 2010--For those of you old enough to remember, or maybe you saw some re-runs of the Ed Sullivan Show in the 1950s and ’60s, there were occasionally juggling and balancing acts on the....
June 18, 2010--Do you ever get the feeling that you’ve passed through the looking glass and are living in Wonderland with Alice? I’m having a little trouble believing so many impossible things lately and I’ll bet you are too. Here are a few more impossible things for you to ponder.
June 18, 2010--Do you ever get the feeling that you’ve passed through the looking glass and are living in Wonderland with Alice? I’m having a little trouble believing so many impossible....
June 4, 2010--We’ve been hearing a lot about canaries lately. You know, the ones that hang out in coal mines. Of course, this saying comes from the old days of mining when miners actually would bring a bird, like a canary, into the mine to act as a warning device. Since birds are sensitive to toxic gases, if the bird suddenly died it was a warning of high levels of toxic gases. One of the serious “canaries” today is the current debt crisis in the U.S. You might say that the canary isn’t dead but it could be on life support.
June 4, 2010--We’ve been hearing a lot about canaries lately. You know, the ones that hang out in coal mines. Of course, this saying comes from the old days of mining when miners actually wou....
May 13, 2010--Texas singer-songwriter Townes van Zandt once told Emmy Lou Harris that there were only two types of music: the blues and zippity do da. Many people had a serious case of the blues on May 6. About the only whistling that was going on was like whistling past the graveyard.
May 13, 2010--Texas singer-songwriter Townes van Zandt once told Emmy Lou Harris that there were only two types of music: the blues and zippity do da. Many people had a serious case of the blues on....
April 23, 2010--Did you hear the good news? GM is “repaying in full” its loans from the U.S. and Canada, and almost five years early. Let’s break out the champagne and celebrate the comeback of the century! Looks like the taxpayer bailout of GM and the UAW was a success after all.
April 23, 2010--Did you hear the good news? GM is “repaying in full” its loans from the U.S. and Canada, and almost five years early. Let’s break out the champagne and celebrate t....
April 16, 2010--Are you a bull or a bear? I’ve heard this question countless times during the years. The truth is the answer doesn’t matter. What does matter is an understanding of the up and down cycles of the market and where we are in that cycle.
April 16, 2010--Are you a bull or a bear? I’ve heard this question countless times during the years. The truth is the answer doesn’t matter. What does matter is an understanding of the ....
April 2, 2010--Well, they finally did it. They passed health care reform. Is that a good thing? It depends on whom you ask. Now that one of the most hotly debated pieces of legislation in history has passed, the real interesting part starts now as everyone sorts through what it says, what it means and what it will cost. As the old saying goes, “Be careful what you wish for because you just might get it.”
April 2, 2010--Well, they finally did it. They passed health care reform. Is that a good thing? It depends on whom you ask. Now that one of the most hotly debated pieces of legislation in history h....
March 5, 2010--Hockey legend Wayne Gretzky famously said, “I don’t skate to where the puck is. I skate to where the puck is going to be.” A friend of mine in Tennessee told me a similar story about a breed of squirrel hunting dogs called a Mountain Feist. When chasing a squirrel, most dogs run after the squirrel and seldom catch it. Supposedly, the Mountain Feist instinctively heads for the tree, knowing that is where the squirrel is going. I think my friend might be pulling my leg, but it’s a great story anyway. It’s also a great metaphor for how to invest.
March 5, 2010--Hockey legend Wayne Gretzky famously said, “I don’t skate to where the puck is. I skate to where the puck is going to be.” A friend of mine in Tennessee told me a s....
January 15, 2010--“A penny for your thoughts,” my mother used to say. That’s probably all they were worth then. But then again, maybe not much has changed. You get mine for free, although some might say you get what you pay for.
January 15, 2010--“A penny for your thoughts,” my mother used to say. That’s probably all they were worth then. But then again, maybe not much has changed. You get mine for free, ....
February 15, 2010--In 2008 the global financial system almost came to a standstill as banks, insurance companies and investment firms teetered on the edge of insolvency. Much of it was blamed on excess risk taken in the subprime lending markets. But that was just the beginning of the problem.
February 15, 2010--In 2008 the global financial system almost came to a standstill as banks, insurance companies and investment firms teetered on the edge of insolvency. Much of it was blamed on ex....
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