Author Archive

Efficient market theorists—the economists who believe that every investor is rational and every company’s true value is reflected in the last price paid for a share of stock—will tell you that America’s corporations were worth 12-13 percent less on Monday than they were on Friday. The rest of us recognize that we are in the [...]
A bill entitled The Setting Every Community Up for Retirement Enhancement (SECURE) Act passed the U.S. House of Representatives last May by an overwhelming majority, and it was called the most comprehensive, sweeping retirement security legislation in recent history.  A few days ago, the Senate finally passed the same legislation by attaching it to its [...]

July 2, 2019

Bob Veres

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You’ve probably heard, in campaign speeches by Democratic Presidential contenders, that almost half of all Americans couldn’t cover a $400 emergency expense.  Senators Kamala Harris, Elizabeth Warren and Bernie Sanders have all told audiences some version of this line. Basically, they’re saying that many of us couldn’t afford to pay for a flat tire or […]

Luck or Skill? There’s an ancient question in the investment markets, which is affecting the marketplace in a variety of ways: is an active manager’s investment performance the result of luck or skill? The layperson’s answer would be obvious: anybody who has expertise and works hard at something should, eventually, produce results superior to what […]

Sometimes the popularity of a particular investment is driven by unexpected forces.   One example, is the so-called SALT (state and local tax) limitation that was imposed in the recent tax legislation, which basically says that you can only deduct $10,000 on your federal tax return for state taxes, including state income and local property […]