● Rational Expectations: Asset Allocation for Investing Adults By William J. Bernstein Summary via author’s website, EfficientFrontier.com It’s been almost two decades since the first electronic edition of The Intelligent Asset Allocator appeared online, so I decided to start with … Continue reading
Monthly Archives: May 2014
I’ll be traveling and attending to the final arrangements for my mom over the next few days and so blogging will be light to nonexistent, returning with the usual fare on Monday, June 2.
Today’s revised GDP report for this year’s first quarter looks dismal. Growth was considerably weaker than expected, with economic activity slumping 1.0% in the first three months of the year on a seasonally adjusted annualized basis. That’s quite a bit … Continue reading
Tomorrow’s update on US personal consumption spending for April is expected to report a gain of 0.3% vs. the previous month, based on The Capital Spectator’s median econometric forecast. That’s substantially below March’s 0.9% increase.
Bubble talk is on the march these days, and for an obvious reason: trailing return is high. But as I’ve discussed before (see here, for instance), I prefer to describe the ebb and flow of market prices as a reflection … Continue reading
There’s a bullish tailwind blowing across the major asset classes at the unofficial start of summer. But there’s a new feature to the current rally. Compared with the previous update in April, the range of returns at the moment is … Continue reading
To all of you who sent your condolences and support, through emails, flowers, cards, thoughts and prayers… thank you so much for helping me move through a rough week after losing my mom. Painful as this is, the burden’s a … Continue reading
Family responsibilities came a-calling last night. My beloved mother, Eva Picerno, passed away. Her 94 years finally caught up with her. But she went peacefully, in bed, watching her favorite show—Dancing With The Stars. Her passing isn’t terribly surprising—the finale … Continue reading
Economic momentum remained broadly positive in April. It may not feel like growth, but the macro trend remains firmly skewed toward expansion, based on the latest profile of last month’s numbers. Indeed, the April update of a diversified set of … Continue reading
● Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain By Steven D. Levitt and Stephen J. Dubner Summary via publisher, HarperCollins Levitt and Dubner offer a blueprint for an entirely new way to solve problems, … Continue reading