Money

The Dear John Letter (to your Financial Advisor)

For many people, the worst part of the process of terminating an advisor happens at the very end, when you finally have to tell the guy the relationship is over.

Firing Your Financial Advisor, Part III

Now that we know why we’re going to fire our financial advisor, let’s talk about when to do it. Obviously, if any of the issues I detailed in my last post are operating, the time to fire your advisor is ASAP.

Firing Your Financial Advisor, Part II

If you Google “Should I fire my financial advisor?” you will land on a lot of brain-​dead articles. If any of the reasons listed in those articles apply to your financial advisor and you haven’t fired him, you’re probably hopeless.

Firing Your Financial Advisor

“You’re fired!” – Donald Trump. The incredible — and incredibly long — bull market in both stocks and bonds that has persisted since the end of the Global Financial Crisis is now teetering. Whether or not the market bloodbath that occurred in October continues, the bull will in fact come to an end one…

Fed Folly and its Practical Effects

“The… task of economics is to demonstrate to men how little they really know about what they imagine they can design.” –Friedrich von Hayek

The Fed’s Act of Cowardice

We are talking about America’s Monetary Keystone Kops, who have, since 1987 (when Greenspan became chair of the Federal Reserve), been masquerading as central bankers. (Or maybe it’s the other way ‘round, it’s hard to tell.)

Bernanke’s Blunders

We’ve assessed the successes and failures of central bankers in the 1930s. Now let’s turn our attention to their modern counterparts.

Why Gold Had to Go

The “gold standard,” which prevailed in the developed world for many decades, simply means that some fraction of a country’s paper currency has to be backed by — that is, convertible into — gold. In the U.S. that fraction was 40 percent. Since a government on the gold standard can’t print money without increasing…

Central Bankers Then and Now, Part III

Scholars of the Great Depression typically blame policymakers of the 1930s for failing to do four things:

The Great Depression vs. the Great Recession

Subsequent to the Global Financial Crisis, U.S. GDP has grown, in the aggregate, 37%. During the period of the Great Depression, U.S. GDP grew, in the aggregate, 40%. In the 1930s, the U.S. economy declined 26% between 1930 and 1933 and unemployment rose to 25%. During the Great Recession the…

Central Bankers Then and Now

Not that anyone cares, but in these pages I’ve been highly critical of the “unconventional” policies pursued by every central banker on the planet since the Financial Crisis.

Three Questions on the Markets, Part IV

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a series of questions. The final question is, “What effect will higher inflation have on stock prices?”

Three Questions on the Markets, Part III

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a series of questions. Below is part three of this four-​part series with their answers to this question: Do you think the Trump Administration’s stimulus efforts — especially the…

Inside a Swiss Bank

I just returned from one of those whirlwind speaking tours in Europe – three speeches in four days in Zurich, Budapest and Vienna. It was an eye-​opener. Back here in the U.S. we are so focused on the shenanigans going on in Washington, D.C. that we forget that very similar…

Three Questions on the Markets, Part II

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to questions. Below are their answers to this question: Why has market volatility spiked in 2018? Do you expect markets to remain volatile?
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