At the end of September, another hedge fund titan called it quits, continuing a trend since the global financial crisis began in 2008. Whitney Tilson, a well-known name on Wall Street, announced the closure of Kase Capital Management because in his own words, “Reporting sustained underperformance…was making me miserable.” Just ten years ago, Tilson was one of the hottest names in the hedge fund arena, having outperformed the S&P 500 by more than 100% since his fund opened its doors in the ... [Continue Reading]
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Memories of the global financial crisis still weigh heavily on the minds of many investors. From October 2007 to March of 2009, the S&P 500 lost 55%, creating the greatest market downturn since the Great Depression. For investors who maintained a disciplined approach however, this memory is far less painful, as the S&P 500 has not only fully recovered its losses, but has produced nearly 100% gains. Today's recommended reading article, "You Just Doubled Your Money if You Invested at the ... [Continue Reading]
A combination of a weakening U.S. dollar and a decline in the U.S. consumer savings rate has driven corporate profits to all-time highs. This record-breaking earnings season has seen notable technology firms such as Apple and Facebook produce great earnings reports--but, it is notable that the record hasn't been achieved by a select few large companies. When we look at the S&P 500, more companies have been beating earnings and sales estimates than at any time in the past decade. As Jack ... [Continue Reading]
Estate planning includes the process of documenting our intentions so that they are known after we pass away. Done well, the process is straight-forward, and the outcomes align with one's original vision. Not done well, or ignored, the process can be quite difficult, time consuming, and leave heirs with complicated situations to sort out. As Cheryl Munk of the Wall Street Journal highlights in, "Haven't Updated your Estate Plan in a While? It's time," 52% of children report that they haven’t had ... [Continue Reading]
This fall the Federal Reserve intends to officially begin the process of unwinding their large balance sheet, marking an end to the program known as quantitative easing (QE). This program was initiated in 2008 as the U.S. economy was quickly heading into recession, led by the U.S. housing crisis. The Federal Reserve, over the following six years, purchased $4 Trillion worth of Treasury bonds and mortgage-backed securities in an attempt to prevent the recession from turning into another Great ... [Continue Reading]