Investment

No Pain, No Gain – Taking the Long View on the Dollar and Commodities

“Long ago, Ben Graham taught me that price is what you pay; value is what you get. Whether we are talking about socks or stocks, I like buying quality merchandise when it is marked down” – Warren Buffett

We pointed out in our recent quarterly commentary that a major countertrend movement was brewing in both […]

Pondering Halftime Adjustments

At the beginning of the year, we wrote about an aging bull market that we thought could be ridden, but with the caveat that one wouldn’t want to take too much risk given the magnitude of the move, current valuation levels in the U.S., and an overall evidence profile that was clearly mixed with […]