What the crisis of the early 1980s may teach us about today's projected shortfall. Imagine it is 1982. You are 62 years old and have spent years working, saving, and paying into Social Security. Despite years of high inflation...
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All Thoughts
Forward stock price-to-earnings ratios are above historical averages – but what does this mean for long-term investors? Following three consecutive years of double-digit market gains, the S&P 500 continues to reach new highs...
“Life is long” is not something we hear very often. But as life expectancies increase, investors face a growing challenge: making sure what they have will last across much longer time horizons. The natural response is a greater...
The US economy started 2026 on a relatively strong footing, despite AI productivity and labor market fears, uncertainty over FED policy and independence, and geopolitical tensions abounding. Though the markets have reacted only...
Has there ever been an investable asset that has gotten a worse rap? The chart below shows the performance of gold, dating from 1972 through 2025. Point to point, not too bad at all. And yet, despite this performance record,...
Ever heard of legendary bond investor Howard Marks? Most people haven’t. Bond investing tends to fly under the radar—it’s important, but rarely the headline act. Well, he's the guy who runs Oaktree Capital, and when he talks...
When real estate investor Jerry Buss bought the Los Angeles Lakers in 1979, it wasn’t just about sports. He may not have known it then, but he was betting on entertainment, culture, and really — TIME. Over the next four decades,...
October is National Cybersecurity Awareness Month, which aims to raise awareness about the importance of cybersecurity and encourage individuals and organizations to take proactive steps to protect their online information. A...
"Trust takes years to build, seconds to break, and forever to repair." For decades, the United States has stood as the world’s leading investment destination, built on strong economic fundamentals and a tradition of...