The Impact of Higher Temperatures on Economic Growth Federal Reserve Bank of Richmond, August 2018, No. 18-08 Riccardo Colacito, Bridget Hoffmann, Toan Phan and Tim Sablik What happens to the economy when it gets hot outside? Despite long-standing assumptions that economic damage from rising global temperatures would be limited to the agricultural sector or…Read More
Each year, Vanguard Group releases its annual review of the state of retirement savings in America, focusing on the 401(k)s, 403(b)s and other defined-contribution plans that allow people to set money aside.
To Be, or Not to Be: Bullish. My friend Mark Lehmann has been a strategist at UBS for decades; his research (rarely available to the public) is always fascinating and thought-provoking. The chart above is a perfect…Read More
The transcript from this week’s MIB: Joel Greenblatt, Gotham Asset Mgmt is below. You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Soundcloud.
Pick Another Day to Celebrate the Bull Market’s Birthday Yes, the lows were on this day in March 2009. But the next four years were just the recovery from a huge collapse. Bloomberg, March 9, 2018 On this day in 2009, the major stock-market indexes closed at lows not seen in more than a…Read More
There are many reasons why I believe you should not date bull markets from the prior bear market lows. But two reasons standout in particular. The first is hindsight: Consider what it was like during the 1970s bear market. There were multiple rallies and sell offs –…Read More
Back in the 1970s, Ms Body Politic was very sick with Stagflation Disease. Its two main symptoms were Inflation Fever and Unemployment Upset. Dr Volker administered Tight Money Medicine to cure Inflation Fever, but he had no medicine for Unemployment Upset. Dr Reagan, after consulting with Drs Laffer and Kemp, proposed Tax Cut Medicine to…Read More
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