Monthly Archives: May 2020

Historically, it is typical for the most widely held, over-valued stocks in a market cycle to have negative or zero returns for many years thereafter.  Today, the top five stocks in the S&P 500–Microsoft, Apple, Amazon, Alphabet (GOOGL), and Facebook–make … Continue reading →

In the last decade, the dominant corporate model has been about rewarding short-term extractive shareholders and lenders, at all costs, with the masses dependent on debt to make ends meet.  The price has been lost savings and productive investment along … Continue reading →

As cash flows have plunged in the pandemic shutdown, many rents have not been paid and so payments on loans have been missed and investors who own commercial mortgage-backed securities (CMBS) that hold loans from hotels, apartments, offices and retail … Continue reading →