Tuesday, June 4, 2019
There is an old stock market adage - “sell in May and go away.” Although most pundits discount its usefulness, it works more often than not. It certainly did this year. The Standard & Poor’s 500 reached a high for...
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Wednesday, May 1, 2019
On December 19, 2010, an analyst named Meredith Whitney was interviewed on the CBS news show 60 Minutes. Ms. Whitney had achieved fame by forecasting the bankruptcy of Citigroup three years earlier. This time, the subject was municipal...
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Tuesday, April 2, 2019
The Standard & Poor’s 500 was up over 13% for the first quarter of 2019. The Dow Jones Industrial Average gained over 11%. The tech-heavy NASDAQ was the big winner, up some 16%. Bonds also did well as high quality bonds returned...
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Friday, March 8, 2019
This morning, Mr. Draghi, head of the European Central Bank, announced that the economic outlook for the Eurozone had deteriorated. Italy is already in a recession. Germany is close. The political and trade uncertainties surrounding...
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Friday, February 1, 2019
Alan Greenspan was Chairman of the Federal Reserve from 1987 to 2006. That is an amazingly long time for any appointed official in Washington. Perhaps his longevity was due to the propensity of the Federal Reserve to rescue the economy...
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Monday, December 31, 2018
Each year at this time we find it instructive to review our forecast from a year ago compared to what actually happened. It helps put things into context as we make our fearless forecast for the new year. A bit unfortunate; our last...
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Tuesday, December 4, 2018
November made me tired. Perhaps it was the breathless mainstream news coverage of the midterm elections that in the end produced the most predictable result - a somewhat divided government. There was certainly no mandate for the left...
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Sunday, November 4, 2018
As expected, the global selloff of stocks finally caught up with the US stock market in October. In the month, the Standard and Poor’s 500 declined 7%. The Nasdaq was worse; declining close to 9%. Both are now essentially flat...
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Monday, October 1, 2018
Of course the elections will matter to the markets. But, not that much. The partisan divide and the sad state of affairs of the last week are giving us a preview of the next five weeks and thereafter. Shrill political ads full of...
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Monday, September 3, 2018
At least economically, the Trump administration has to be given credit for surprisingly strong performance. Second quarter GDP growth was upwardly revised to 4.2%. Unemployment is below 4% overall. Unemployment rates for Hispanic and...
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Thursday, August 2, 2018
Earnings reports from almost all companies in the last two weeks have been wonderful! The tax cuts have kicked in, the economy is doing great. Corporate profit margins are at all-time highs. The question must be asked, "IS THIS AS GOOD...
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Monday, June 25, 2018
The talking heads on the business channels are having a field day with trade wars and tariffs. As usual, they speak with great certainty about “what happens in a trade war.” I would remind them that few of us were around...
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Tuesday, May 1, 2018
The most overvalued asset type in the markets today is high yield bonds. These so-called “junk” bonds are generally rated below investment grade. That means the rating agencies like Moody’s and Standard & Poor’s...
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Tuesday, April 3, 2018
If you had gone to the moon at year end 2017 and returned at the end of the first quarter of this year, you would wonder what all the fuss was about. The standard & Poors 500 began the year at 2668 and ended the quarter at 2642. That...
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Monday, February 26, 2018
Obviously, January and February were very volatile months for stocks. It was also quite volatile for bonds. Although it was the kind of volatility that goes in a straight line. Bond prices have been going straight down. In November,...
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Tuesday, February 13, 2018
I hope your 2018 is off to a good start. Last year was a good year and as the market bounces around, it’s important we focus on “the long view.” Remember that countless studies have shown that it’s time in the...
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Monday, January 29, 2018
The US equity market, expressed as the Standard & Poor’s 500 Index, has had a pretty good year in January. The index has already returned 7.5% through January 26 for this year. Foreign markets have also been fantastic. The...
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Tuesday, January 2, 2018
Once a year it is easy to select a title for this letter. Each year at this time, we find it instructive to review our forecast from a year ago compared to what actually happened. It helps put things into context as we make our...
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Friday, December 1, 2017
Market sentiment, as measured by the Investor Intelligence survey, is extremely bullish, and has been for months. The spread among market letter writers is as wide as it gets. Bulls are 62%. Bears are 15%. This is a dangerously wide...
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Monday, October 30, 2017
The economy is strong. The US has enjoyed two quarters in a row of 3% or better growth, even with the disruption caused by the hurricanes. Earnings for the S&P 500 for 2017 will increase at a double digit rate for the first time since...
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Thursday, October 12, 2017
Shortage of Stocks? As an economist, I know there is no such thing as a “shortage” of stocks. Demand always matches supply. But, the trick of course is figuring out what is the future demand and supply, and at what price...
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Thursday, September 21, 2017
What To Do After A Major Credit Data Breach – Consumer Awareness Be Proactive: Request A Copy Of Your Credit Report Now Consider Freezing Your Credit: Only If You’re Not Applying For Credit Soon Subscribe To A Credit...
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The Guide covers a broad variety of topics, such as how to file flood claims, renters’ rights, how to replace your passport and/or credit cards that may have been lost or damaged in the storm, information about schools and about...
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Friday, September 1, 2017
The Lost Week It began to rain last Friday, August 25, in the late afternoon. It was a good, solid rain - not really a thunderstorm - just sheets and sheets of water coming down from the darkened skies. It finally stopped Tuesday...
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Tuesday, August 22, 2017
HOWARD MARKS Howard Marks is one of my heroes in the investment management business. He is the leader of Oaktree Capital, a firm based in Los Angeles that manages some $100 billion for large institutional investors. It is largely a...
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As our nation approaches the anniversary of its independence, I thought it would be good to reflect on the blessings of being an American.It is very easy for us to think about what is wrong with America. Everyday we are bombarded with...
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Whether they are just born, or are steadily advancing through the elementary grades, it is never too early to start thinking about college for your children. A college degree is a very prestigious achievement that will account for a l
Read MoreCaney Creek Report - Valuation - the Hardest Thing
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Facebook LinkedInMeet Our New Interns We are excited to welcome our two new interns to the teamPeriPeri is currently enrolled as a student at St. Edwards University in Austin, TX. She just...
Read MoreA new survey finds that baby boomers are some of the most motivated members of the workforce today.
Read MoreA new study finds that older job hunters are less likely to be forced into “old-person jobs” these days.
Read MoreBaby boomers should steer clear of these six missteps to boost their chances of a secure retirement.
Read MoreRetirement success depends on spending as much as—or less than—you withdraw each month. Here’s how to nail the balance.
Read MoreThanks to new rules, reverse mortgages—long seen as loans of last resort—are proving popular with cash-strapped retirees.
Read MoreBaby boomers are hitting retirement age at an excellent time for stocks, and it’s leaving many with more money than they know what to do with.
Read MoreFor many boomers, retired life is marked by four distinct phases.
Read MoreThese four retirement facts might surprise baby boomers—and can help them better prepare for their non-working years.
Read MoreRetirement concerns have baby boomer women holding on to their jobs for longer than they planned.
Read MoreIt’s often said that boomers should wait as long as possible before claiming Social Security benefits. Here’s why.
Read MoreA new study finds that Baby Boomers are less confident than ever about their financial prospects in retirement.
Read MorePlanning your retirement expenses can be a challenge, especially when it comes to these five costs. Here's what boomers should expect.
Read MoreVarious studies have uncovered unique challenges and opportunities facing retiring Baby Boomers. Here's what they should know.
Read MoreThousands of Baby Boomers reach retirement age every day, though many aren't leaving the workforce. Yet.
Read MorePrepare for Implementation of Proposed 2704 Regulations
Read MoreBaby Boomers are changing the face of retirement. These five trends explain why.
Read MoreStaying in your job for just a year longer can benefit your retirement savings in more ways than one.
Read MoreLongevity and financial necessity will keep many Baby Boomers working past traditional retirement age.
Read MoreA new study finds that most Baby Boomers expect to work longer and save more during retirement, rather than retire.
Read MoreMany Baby Boomers plan to keep working after traditional retirement age, but they might be headed for a reality check.
Read MoreBaby Boomers share several anxieties when it comes to preparing for retirement, but proper planning can help get rid of them.
Read MoreA recent study found that many baby boomers lack knowledge about Social Security benefits, which could cost them in the long run. To get the most out of their benefits, boomers should make sure they’re not making any of these Social S
Read MoreMany baby boomers have left retirement accounts with previous employers over the years. Consolidating those accounts before retirement can pay off in big ways.
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With the upcoming PGA Insperity Golf Tournament in The Woodlands, we thought you might enjoy this video.
Read MoreIt’s 2016, but the financial crisis of 2008 is still top of mind for many baby boomers—and it’s impacting their saving and investing habits. A new study finds that a significant number of boomers experienced economic trauma following the c
Read MoreThe Great Recession may have ended years ago, but many boomers are still supporting aging parents, adult children or both—and it’s negatively impacting their financial standing. Despite the reduced financial security, though, few boomers ha
Read MoreRetirees hoping for higher Social Security benefits shouldn’t hold their breath: there likely won’t be a cost-of-living increase in 2016. For many, putting a financial plan in place may be necessary to help stretch Social Security dollars f
Read MoreAccording to a recent Insured Retirement Institute survey, only 6 in 10 boomers report having any retirement savings, and just 27 percent are confident they will have enough money to last through retirement. Better retirement education effo
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