When you’re driving in America, speed limits are posted in miles per hour. This makes sense. When you’re on a highway, you’re likely driving for more than a minute or two. Maybe you’ll be on the road for fifteen minutes.

Lawyers are trained to read everything. To find the issue buried in the footnotes. To never let a document go unanalyzed. That instinct makes you exceptional at your job. In investing, it can work against you. The financial news cycle

Some of my clients have recently asked if I think the stock market is overvalued. (The US stock market, that is. We maintain material allocations to international equities, where valuation concerns are less pronounced.) We have a view on this

“I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it.” Charles Dickens wrote those words in A Christmas Carol to describe Marley’s

Markets and investors have been rattled by President Trump’s recent tariff announcements. Are we headed into a recession? Will the US dollar continue to weaken? Will markets fall further? Is American economic dominance at an end? As investors, what should we do?

With a stark shift in US tariff policy announced on April 2 and ongoing responses worldwide, many investors are on edge. Volatility as measured by the VIX index has spiked to levels not seen in nearly five years. When there

Albert Einstein famously referred to compound interest as the “eighth wonder of the world.”  That quote, and the fact it was Einstein who said it, got me thinking about a concept from physics: escape velocity.    Escape velocity is the speed a

With inflation consistently in the news, clients may wonder whether stock returns might suffer if inflation keeps rising.  If we look at equity performance and the annual inflation rate over the last three decades in the U.S. (see chart below) the simple answer is that we’ve