For value investors, the past 10 years have been outright depressing. Since bottoming out in 2009, the S&P 500 is up over 330%. That compares to 235% returns in the S&P 500 Value Index. That’s nearly a 100% difference in returns over the past decade; enough to shake the confidence of even the most steadfast...Read More

There’s an old Wall Street saying that goes, “Bulls make money, bears make money, pigs get slaughtered.” No one really knows who originally said it, but its meaning is clear. You can make money in a rising market or a falling market if you’re disciplined. But if you hunt for stocks to buy while being...Read More

The Centers for Disease Control and Prevention announced that the number of American live births dropped to 3,788,235 in 2018. That’s a 2% drop from 2017, and a 12% drop from the 2007 high. It puts us back at levels last seen in 1986. But the numbers look worse when you drill down. The population...Read More

Today is a day to remember those who have fallen in the line of duty. For most of us though, it’s an excuse for the office to be closed and kick off the summer by lounging around the pool, or grilling up some burgers with friends and family. There’s nothing wrong with that, of course....Read More

The late Sir John Templeton once commented that “the four most expensive words in the English language are ‘this time it’s different.’” No truer words have ever been spoken. It’s true for degenerate gamblers, drug addicts and serial womanizers. It’s true for politicians peddling failed policy ideas. And it’s true for ne’er-do-well employees or business...Read More