I can’t believe I’m saying this, but 2025 is almost a wrap. This is my last blog of the year (unless something really wild happens, which after 2025 thus far it wouldn’t surprise me), and all eyes are turning to 2026. I wanted to think back over the course of 2025 to...

Ok, I touched on this in my last blog. My main point was that “bubbles” in the stock market aren’t created (nor do they burst) in an environment where everyone is calling for one, or thinks we are already in one. That’s just not how this works. But, first, what is a...

I’ve been in this business for a long time (it’s a bit unsettling how long, but that’s another story), and I have vivid memories of investor behavior during major bull markets of the past. In 1996, Alan Greenspan, then the Fed Chairman, warned markets against...

Well, in a blink of an eye, August has arrived, and for many of us, the kiddos are already back in school. Most of our favorite college football teams will have a game before the end of the month, and fall will be knocking on the door. As such, August is somewhat of a...

Well, just like that, the concerns over the tariff wars, real wars, recession fears, and every other scary thing in the world have magically gone away, and just a day or two ago, the S&P 500 hit a fresh all-time high. Needless to say, it has been quite a year so...

...And just like that, May is over and summer is officially here. It seems like just yesterday (or perhaps last month) that markets were getting rocked, investors were rightfully nervous, and the financial and news media were shoving economic and market warnings down...