Vacations and the Market

For the last few years, I have tried to alternate our family summer vacations between relaxation and education: beach one year, museums the following year. In 2020, our plan was to go to Philadelphia and Washington, D.C., but that did not happen, and we ended up...

The Quiet Fall in Bond Yields

What’s behind the quiet fall in bond yields? With all the attention given to inflation, stock prices, and job reports, it’s been easy to overlook the remarkable move in the bond market during the past few months. The yield on the 10-year treasury closed at 1.37% on...

“The devil is in the details.”

As the idiom goes, “The devil is in the details.”  A few years ago, someone commented that I did not have any pictures or paintings on my office walls. After deliberating for a couple of days, I decided to have some fun. Since I do have an eye for typographical...

Death and Taxes

As Benjamin Franklin famously said, “In this world nothing can be said to be certain, except death and taxes.” Consistent with his pre-election promises, President Joe Biden has proposed several tax increases on upper-income individuals, capital gains, and...

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