The Proposed Tax Policy Changes

Who is John Galt?   President Biden won the electoral college by 74 votes, but he won the “swing states” by only just 65K votes. So, even though it may not look like it on the surface, this was a narrow margin of victory for the current President. The election...

Inflation vs. Deflation: Tug of War of the Decade

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Milton Friedman Friedman’s quote above is historically accurate although since the 1990s and...

Part 2: The (Low Quality) Finale

In the essence of continuing our inner George Costanza of doing the complete opposite of what normal nomenclature says, we are giving you Part 2 of this series alongside Part 1. So, let’s fast-forward into the future life of the boorish George Costanza – which we get...

The Market Needs to Yada Yada Yada on Low Quality $tonks

For those not familiar with the greatest TV show ever, George Costanza was the unlovable loser from the iconic ‘90’s sitcom “Seinfeld”. Ignorant, callow and a notoriously bad tipper, he seems like an unlikely source of investment advice. However, in a rare moment of...
Inflation Protection…Are TIPS the Answer?

Inflation Protection…Are TIPS the Answer?

One question we’ve gotten a lot recently is how can investors position portfolios if we see some inflationary pressure… are Treasury Inflation-Protected Securities (TIPS) a good idea? What are TIPS? Straight from the Treasury… “The principal of a TIPS increases with...
Inflation Protection…Are TIPS the Answer?

Muni to Treasury Ratio at Historic Levels

As advisors often see, high-income investors love municipal bonds. And for the most part we’ve shared that love. Tax-favored income and low correlation to equities, what’s not to love? But it seems investors are piling in with little regard for price, even with...