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Monthly Archives: December 2018
Zero tolerance for abuse of trust is essential
Avoiding the pull or even appearance of conflicts of interest is Ethics 101. In a world where abuse of trust has become the dominant business model, legislated bans, zero tolerance and prosecution are essential to restoring trust. Bills like this … Continue reading
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Even bear winters should have green spells
As gratifying as it is has been to watch the portfolios we are managing gain in 2018 while everything else is dropping, we should also expect strong counter-trend rallies to keep punctuating the downtrend–for days, even weeks at a time. … Continue reading
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Balance sheets should help backstop income cycles
The Keynesian thesis is that central banks and governments can help smooth financial cycles by adding liquidity and enabling spending when downturns come, and then working to rebuild savings and reduce debt through the economy when times are good. Suffice … Continue reading
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