One lesson I learned from my 30 years in Wall Street is that even investment professionals can act like novice investors given the right circumstances. Skill and experience don’t always protect us from Mr. Market’s crafty ways. Today’s market and my experience is a case in point. Here’s why I began to have doubts,... »
It seems that whenever something happens in the housing market, a flock of articles pop up explaining why the signs are ominous and housing is destined to flounder. To me, the oddest one has to do with existing home sales this year. Prices have risen, and the inventory of homes for sale has fallen.... »
An influx of data and observations is reshaping housing’s activity from its hopeful look to something more exciting. The positive developments are so widespread and significant that it seems time to shift from being positive to being bullish on housing. Below are the items I find most compelling: This article is published on Forbes.com... »
The Wall Street Journal placed a large, misleading graph on page 1 last Thursday (Oct 16). In “Congress Strikes a Debt Deal,” the graph highlighted the 20-year, fourfold increase in U.S. government debt and the historically large growth over the past four years. While the numbers are correct, the WSJ’s presentation is not. Here’s... »
