Stocks have gone nowhere

We must be getting close to the end of one thing… and the start of something else. The thing whose end is nigh is the bubble on Wall Street. As a bubble inflates, the lightest, lowest-quality stocks f

Did you sell in May and go away this year? I do hope not, because we have often pointed out that seasonal investing is nonsense. The notion that stocks are weaker between May and September is thought

Parents of young children, and pet owners, often start to worry when they have been enjoying an unusually long period of silence. Investors are experiencing a similar sensation. Markets seem calm, wit

Since World War II, the two landmark events in the evolution of money were Bretton Woods in 1944, when the dollar became the de facto global reserve currency, and then the Nixon Shock of 1971, when th

“There is always someone worse off than you,” as Aesop reminded us. That also means there is always someone to feel superior to. In post-war Europe, Italy was the country everyone made fun of, dismiss

A month ago, analysts were predicting that S&P 500 earnings growth for the second quarter would come in at a sluggish 5% year-on-year, says Sam Goldfarb in The Wall Street Journal. The spring period w