There are no guarantees.  There is no free lunch.  These are some of the most basic tenants of business and markets that all investors must learn.  In the world in which we live, the lack of certainty seems to...

“The danger of paying the wrong price is almost as great as that of buying the wrong issue.”Benjamin Graham Who was Ben Graham?  Many investors know him as the “father of value investing” or the “dean of wall...

 THE MONEY ILLUSION: NOW YOU SEE IT, NOW YOU DON'T... The inflation discussion seems to dominate the financial news cycle these days. What does it all mean, and more importantly how is it likely to impact...

Markets are efficient.  At least that is what professors of finance have been teaching students in their classrooms for decades. The Efficient Market Hypothesis (EMH) has theoretical roots over 100 years old,...

“The greatest risk to investors is overpaying for what you own.” John Templeton John Templeton is recognized by many stock market historians as one of the greatest investors of all time.  During the 38...

What a difference two months can make in financial markets.  Since the date of our last email update, April 3rd, US stocks (measured by the S&P 500 index) are up over 25%.  The massive volatility that ripped...