How Not To Invest
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Nobody Knows Anything, Rate Expectations Edition
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    Heading out the door for the Labor Day weekend, with blue skies and 85° temperatures, I had to share a chart. It’s from the San Francisco Federal ...

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The Return of Cisco – The Big Picture
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    I’ve never shared this story before, but since we are at a milestone, I might as well… February 2000: I was working as a strategist for a brokerage ...

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Sturgeon’s Corollary – The Big Picture
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    Sturgeon’s Law states, “90% of everything is crap.” 1 Theodore Sturgeon was a science fiction writer in the 1950s and 60s. He was frequently annoyed by ...

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Rational Exuberance? – The Big Picture
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    One of the biggest challenges for investors is recognizing exactly how little we know about what the future holds. It is a rare moment in market ...

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