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Austrian Oriented Investing

Best Book on Austrian School and Investing

Most of you know I’m an Investment Advisor. The last couple months I’ve been busy working closely with Charles Schwab on our firm’s new investment platform. My goal is to craft portfolios that, as closely as possible, reflect what I see going on in the global macro economy. I’ve been paying…

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The Tragedy of California Public Pensions

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It is well known that California has a pension problem that offers a challenge for public officials and current and future retirees alike. Even if people aren’t aware of the details, it has been talked about for quite some time that there are underlying aspects of the public retirement system…

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The Big Short: A Movie Review

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For most people, the events of 2008 and 2009 are shrouded in mystery. Millions lost their homes and jobs, banks went out of business or were absorbed by other financial institutions, and there was constant political tension about what the proper response by the government should be. The Big Short…

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The Tragic Bull Market Culture

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“Like champagne, bull markets remove inhibitions.” –James Grant My readings over the last several weeks have consisted primarily of David Stockman and Jim Grant– two sane voices in the insane financial world. Each have contributed wondrous thoughts and reflections on the nature of 21st century finance, which is primarily a…

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Investing and “the Economy” as Such

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“The economy is doing well” or “the economy has reached a stand-still” or many other myriad ways to refer to “the economy” should always be taken as a metaphor. And yet, quite obviously, this is not actually the way that the mainstream economic thinking works. For them, the economy is…

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The Discrepancy between Stocks and the Economy

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Adapted, with some changes and edits, from my recent Letter to Investment Clients.  In the last week, several economically important things have happened and they can be summarized together as a discrepancy between the stock market and “the economy.”  First, and of primary importance, on Monday we got the 2016 first…

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