commodities

Real Asset Strategies: Timing Isn’t Everything, but…

Real assets are coming off of a horrendous year relative to diversified stocks. Meanwhile, inflation is expected to stay low indefinitely. So why in the world should anyone own real assets now?

podcast

Podcast Appearance With Michael Covel

I joined Michael Covel on his awesome Podcast this week.  I’m usually listening to other people on his podcast while I workout so it was weird being the guest.  But this was a really fun interview.  The podcast format is so much better than the standard media interview which is brief and doesn’t allow for such an open exchange.  We…

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bull

Richard Bernstein: 5 Signs This Rally is Still Hated (Which is Bullish)

The most hated bull market in history is set to continue according to Richard Bernstein of RBA.  He offers up 5 signs as evidence that this continues to be a market that will climb the wall of worry: “Investors never fully embraced the bull market and remain very uncertain despite that the bull market is more than five years old….

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Yahoo Finance Appearance: Why the Big Picture Matters More than Ever

I was on Yahoo Finance yesterday with Michael Santoli discussing the release of my new book and in the interview he asked me about some of the key points I make: Most importantly, the macro picture matters more than it ever has.  The world is more interconnected and intertwined than it’s ever been.  Understanding what happens at the local level doesn’t…

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strategy2

How to Never Lose an Inflation Debate

I liked this line by Paul Krugman in a recent story referring to how the inflation story is like a game of musical chairs: “So it’s always the 70s, if not Weimar, and if the numbers say otherwise, they must be cooked.” That’s basically right.  But just in case you’re having any trouble winning inflation debates lately you might want…

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binoculars

Investment Plans Are Always Forecasts

I don’t often disagree with the very smart Carl Richards, but I did take issue with a piece that was sent to me titled “investment plans and forecasts don’t mix”.  Carl says it’s silly to construct a forecast of any type or listen to anyone who makes forecasts.  Now, I think it’s important to be very clear about this point…

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gas

The Diminishing Returns of Fuel Efficiency

As vehicles become more fuel efficient, the savings one obtains by further improving the mileage decline substantially. This does not bode well for the future of alternative fuel automobiles.

buffett

Answering Some Warren Buffett Questions…

Business Insider was kind enough to publish an excerpt of my new book yesterday and it prompted some questions via email and the forum. The article is myth #1 in the investment myths chapter of the book and discusses how hard it is to replicate what Warren Buffett has built.  In essence, I argue that Buffett actually runs a multi-strategy…

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im

What A Half Ironman Taught me About Investing

I did the Vineman Half Ironman this past weekend in northern California.   It’s a beautiful race that takes you through the vineyards outside Napa during a 1.2 mile swim, 56 mile bike and 13.1 mile run.  I’d never performed in a long distance event of any kind and couldn’t bike 10 miles or run 5 miles a year ago…

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Interest_Rates

Thoughts on “Artificial Interest Rates”

There’s been a lot of talking in the econ blogosphere about “artificially low interest rates”.   This is a concept that’s often expressed by people who are promoting the “Fed as manipulator” view of monetary policy.  And they’re basically right even if they overstep in the way they communicate the point. I think Noah Smith’s article on Bloomberg View did a…

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future_binocular

Hoisington Investment Management – Quarterly Review and Outlook, Second Quarter 2014

The Hoisington Quarterly review and outlook.

strategy1

Ten Reasons to Stay Active in Equities

It’s often hard to resist the temptation of an inexpensive, passive equity allocation. But we think you can find plenty of good reasons to go active just by looking around the markets today.