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Speculation is a Game You Cannot Win financial insights financial planning investment outlook investment strategies market trends portfolio protection risk management tariffs u.s. economy Apr 21, 2025

Why is speculation a game you cannot win? 

Near my house there’s a mountain called Lone Peak with a trail called Jacobs ladder that goes nearly straight up. The cool thing about it is the end is always in sight. Just 6 miles ahead and about 4,000 feet up. 

Upon nearing the top, you can see the exc...

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Client Memo: There Are No Experts financial insights investment outlook investment strategies portfolio protection recession s&p 500 tariffs trade trump u.s. economy Apr 14, 2025

At the start of 2020, markets were at all-time highs and, to borrow a phrase from the LEGO Movie’s annoying song, “everything was awesome.” At the time, there were only faint news reports of an outbreak in China causing a stir. And then, as these things tend to go, it was everywhere -all at once.

B...

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Near-Term Tariff Uncertainty Driving Volatility and Fear investment outlook investment strategies market analysis portfolio protection risk management stock market tariffs trump u.s. economy Mar 03, 2025

Tariffs are taxes levied by governments on imported goods. They aim to raise revenue, protect domestic industries, correct a trade deficit, impose political pressure on other states or deliver a combination of these goals.   - Investopedia

With the new administration, there will always be uncertain...

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Client Memo: Another Good Year In The Stock Market bonds buffer etfs financial insights investing market trends portfolio protection risk management stock market structured notes Feb 10, 2025

The market boomed again in 2024 for the second year in a row. 2022 seems like ages ago, the last bad year for the markets. I wrote then about how bad it was in aggregate because 2022 was the first year that both stocks and bonds were down double-digits (typically bonds rise when stocks fall).

In 20...

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