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Yom Kippur: What’s it All About?
This week, Jews across the world will observe Yom Kippur. As I noted last week, there are several Hebrew words for the English word holiday. In this case holiday is appropriate, at least in its original meaning. The English word holiday derives from the Anglo Saxon (also called Old English) word haligdæg or Holy Day. Yom…
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Your Jewish Colleagues May Be Out Today. Here’s Why
Shana Tova! Or, in English, “Happy New Year!” If any of your Jewish colleagues are out of the office for Rosh Hashanah, you may be wondering what the holiday is about and why. To that end, I’ve written a short explanation of Rosh Hashanah for those who wish to learn more. The beginning describes why…
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Money and the Making of America: The Secret Second Revolution
Happy (almost) Independence Day! We all know the Fourth of July as the date upon which the Founders signed the Declaration of Independence, the official beginning of the United States of America.[1] History books emphasize the surprising fact that a ragtag band of British colonies gained independence from the British Empire – one of the…
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Time to Get Out of New York Real Estate?
The New York Supreme Court, in the person of Judge Arthur Engoron, has caused an earthquake in the New York real estate market. Investors don’t like risk, and they particularly don’t like political risk. To a great many observers, the trial which resulted in Engoron’s ruling, a trial which some characterize as more worthy of…
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Why Doesn’t Your Client Act? 4 Factors to Guide Financial Decision-Making
Advisors can spend hours explaining a great solution to their clients, only to have those clients not act on the solution. There’s no magic bullet. But sometimes clients appreciate it when their advisor helps them identify what’s making the decision hard. What makes a decision difficult? Decision analysts have found four main things that make…
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Novo Nordisk: Time to Sell?
Novo Nordisk shareholders have grown fat even as the obesity drug company’s customers have been losing weight. From relative obscurity just five years ago, Novo Nordisk has become the most valuable company in Europe. The promise of future returns is built into the stock price. In this post, we look at the risk, which seems…
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The Hidden Risk: Interest Rates and Inflation
This month, the Fed decided not to raise interest rates, and traders responded by driving the Dow Jones Industrial Average to an all-time record.[1] Why? Apparently, the market believes that the next Fed move will be to decrease interest rates, presumably because the Fed believes it has beaten inflation. “Inflation has eased from its highs,…
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Do 95% of Stocks Eventually Lose?
Yes, 95% of stocks do eventually lose. That’s the bad news. But there’s good news too. We’ll explain the above claim, and then will suggest a solution. The stock market has generated incredible wealth for investors over the last hundred years. But if you’re not careful, you can lose big, as shown by recently-published research. A comprehensive study of…
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Why is Warren Buffett Looking So Grim?
Warren Buffett has sold about $23 billion of stock since the beginning of the year, including a recent $2 billion trade in a single concentrated position, Chevron.[1] Buffett has built Berkshire’s cash pile to $153 billion! What does he know that the rest of us don’t? Buffett, arguably the most gifted investor alive, has famously…