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The Case for Cash
To be fully invested in this environment is to say that the reward that awaits is worth the risk assumed.
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Slim Pickings
Mr. Stock Market is really making it hard for us these days, in contrast to a year ago.
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Ethics and Discipline: Speech to UCLA Anderson School of Business
We are in a period of challenge and questioning today. Many are questioning the ethics and integrity of corporate America and now, what was considered one of the cleanest segments of the business field, the mutual fund industry, is under that same microscope.
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Comments on Transgressions in the Mutual Fund Industry
In light of recent articles concerning mutual-fund company transgressions, we believe a few comments are in order. It is with a degree of sadness but also contempt that we are witnessing a broad cross section of mutual-fund companies violating their investors’ trust.
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Buyer’s Strike
We are on a buyer’s strike in regard to the high-quality segment of the bond market.
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Accounting Issues Hiding in Plain View
The Glass-Steagall Act separated commercial and investment banking activities in 1933, to help limit the financial excesses of the 1920s that helped create the Great Depression.
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Comments on Conseco Holdings
Unfortunately, we have been wrong about our Conseco investment. The economic and regulatory climate has overwhelmed the company’s effort to gradually restructure its balance sheet.
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