“His frequent appearances on CNBC draw buzz, as do his wickedly humorous monthly investing columns.”

- NEW YORK TIMES

The Most Anticipated Market Commentary of Our Time

These Outlooks represent life as I saw it, and in many cases, lived it. The monthly preambles about living were what I enjoyed writing the most and were almost always laborious painful inquisitions into our daily lives and in some cases the meaning of life itself.

My best ones, in my opinion, were mentally framed during quiet moments in a shower or after a hard workout at the gym when endorphins open the brain to subconscious thoughts and feelings. They are as much as an autobiography as I could have written, but framed in a monthly series of essays, compiled over four decades that show a maturation or perhaps a molting of my life’s philosophy. They represent who I was, who I am and who I expect to become. I hope that in certain ways, they connect with your own experience.

INVESTMENT OUTLOOK ARCHIVE

Featured Article:

It’s a Bull Market You Know?

There was a reminder recently by Josh Brown, the excellent market strategist on CNBC, of a phrase in Jesse Livermore’s  “Reminiscences of a Stock Operator” which told of an old sage called the “Turkey” who when asked about the stock market’s future characteristically proclaimed “it’s a bull market you know.” In the past few years it certainly has been. No wonder. Massive annual fiscal deficits of 2 trillion dollars leading to accelerating inflation beginning in 2021 in effect created monetary ease despite a Federal Reserve supposedly tightening credit as it raised Fed Funds to 5¼% in mid 2023. Ease? It wasn’t really a tight policy until mid 2023 just a year ago, that an unbiased observer could claim that the cost of money was anywhere close to restrictive.  

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