“In the short term, the market is a voting machine, but in the long run, it is a weighing machine.” Benjamin Graham To make buy and sell decisions, investors continually weigh the price of a stock (or the overall market) versus the prospects...
The American economy has historically been unusually dynamic, in part due to the flexibility afforded both workers and employers. Workers have been willing to change jobs and move in search of better opportunities. As compared to much of the world, companies enjoy greater...
Many of my posts have bemoaned lackluster productivity growth in the U.S. and questioned the reasons for our poor showing given the large investments that have been made in technology. As a reminder, economic growth is equal to the sum of increases in...
As shown below, overall inflation fell from a 9% annual rate in the middle of 2022 to 2.9% in December of 2024. While that is certainly good news, the Federal Reserve has been unable to reach its target of 2%. The two components...
One year ago, I posted a blog on the results of the World Economic Forum’s annual assessment of global risks. The Forum asks 900 experts from academia, business, and politics to rate global risks over a two- and ten-year-time horizon. Here is this...
Innumerable articles have chronicled the migration of Americans from Northern states and California to Texas and the Southeast. Not surprisingly, one consequence of these population shifts has been soaring home prices in the destination states which has rendered many localities unaffordable. However, all...
