The signal among the noise
Friends, As we approach the end of an eventful 2018, there continues to be a steady torrent of major news stories dropping daily. From CEOs tweeting about taking their companies private, to escalating... READ MORE
Keeping an eye on what matters for the economy, Trade.
Dear Friends, Over the past year and a half, trying to absorb news has felt a bit like drinking water from a fire hose. Like many of you, we have steadily become more concerned and... READ MORE
2018 Q1 letter: Why the roller-coaster market is back.
As we noted in our 2017 year-end review, we expect 2018 to be a tough year for the domestic stock market. Rising interest rates and valuation concerns are going to be the major... READ MORE
Income inequality is rising in America, and corporate boards are to blame.
That’s what I read into the comprehensive analysis of individual income tax returns by Bakija, Cole and Heim. The Washington Post has coverage of their work. The work is a damning indictment of the... READ MORE