Quarterly Commentaries

Tax Cuts: Whom Do They Actually Help?

  I’ve had the opportunity to meet some amazing people over my 36-year career. One of the great privileges I’ve had is to be visited by a number of state representatives, U.S. congressmen, U.S. senators, and even one Virginia Governor. The conversation usually begins with a sentence that goes something like this:  “Joe, I need…

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Rules For Investing In A Trump Economy

Well, as Gomer Pyle would famously say, “Surprise, surprise, surprise.” Donald Trump became our president last November and depending upon your political persuasion, we have either entered “the dawn of freedom and prosperity,” or we are precariously perched upon the precipice of “the collapse of America as we know it,” with almost no one possessing…

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It’s My Party And I’ll Cry If I Want To

In our June commentary we asserted that the future of our world pivoted right before our eyes with the British exit from the European Union. Today we continue that thesis and contend that America’s 2016 presidential election both illuminates and confirms the major changes that are occurring under our very noses. Who would have thought…

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The World Just Changed But I Don’t Think Anyone Knows

I think the world just experienced a pivot moment in its destiny, but that impact was missed because everyone focused on the wrong thing.  On June 23, 2016 the United Kingdom voted to leave the European Union and all anyone seemed to focus on was its affect on the financial markets.   I believe the affect…

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2015 Recap: The Year No One Was Happy

Talk about a “glass half empty” attitude. Have you ever been in a relationship where no matter what you did the other person wasn’t happy? When you took initiative and did something, they were upset at what you did. If you did nothing, they were upset that you didn’t take the initiative. Well that’s how…

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Well, that was no fun!

I must admit, my job is so much more fun during rising bull markets than during market corrections. Make no mistake, corrections are scary things. People lose confidence in the economy, in their portfolios, in the companies in which they invest, even in their own judgment. Corrections are like a storm that rolls in and…

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Keeping Up With The Market Is Like Keeping Up With The Jones’

I’ve been a Mets fan since 1966. They have given me some of the most memorable and enjoyable moments of my life. Unfortunately, the Mets have also given me some of the most frustrating moments of my life. Pretty much every kid growing up in New York eventually splits into one of two groups, Met…

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Merry Christmas – Every Family Gets A $139 Per Month After Tax Raise!

Last October I was quoted by Barron’s Magazine in an article about our economic recovery where I said, “Why is no one talking about the lower price of gasoline? It’s the equivalent of the biggest tax cut since Ronald Reagan took office.” That set off a firestorm of commentary with the realization that the current…

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Ben Bernanke and the Federal Reserve; Were they Batman or the Joker?

It was 5:12 a.m. and another typical foggy morning in San Francisco.  People were just waking up.  Fathers were getting ready for another hard day’s work this Wednesday while mothers began to get ready to prepare breakfast for their children.  Suddenly, the ground began shaking. . .just a tremor at first but then a big…

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