S&P 500 Sector ETFs: A Look Under the Hood, Part 1

It’s pretty easy to understand the appeal of indexing, particularly after a year like 2014. Less than one out of five active mutual fund managers beat their respective benchmark last year. And those few that did beat their benchmarks […] Continue Reading…

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VIDEO: Stocks to Deliver Flat Returns Over the Next 7-10 Years

I joined CNBC Asia’s Street Signs last night to chat about the market’s prospects.

By just about any metric you want to choose, U.S. stocks are expensive today. At 26.9, the cyclically-adjusted price/earnings ratio (“CAPE”) is about 62% higher than […] Continue Reading…

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Musings on the New HBO Partnership with Apple

Musing on today’s announcement by HBO to offer its new streaming service exclusively to Apple (AAPL) products for the first three months:
Weird that HBO went exclusive with $AAPL rather than make it open to Roku, Chromecast, etc. Seems awfully […] Continue Reading…

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Investing Lessons from House of Cards’ President Underwood

He may be a murderous bastard with no conscience, but if Frank Underwood were a real-life candidate for the presidency, I would vote for him.

Frank Underwood is not a real person, of course. He’s the crooked politician portrayed by […] Continue Reading…

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Musings on McDonald’s Dividend

McDonald’s Corp (MCD) announced that its domestic U.S. sales dropped 4% in February. That’s bad. Really bad. And it probably won’t get better for a while. A battleship this size cannot turn on a dime, and McDonald’s will have […] Continue Reading…

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