Blog Archives

Lessons from Steve Schwarzman – Chairman and CEO of Blackstone

Steve Schwarzman

Steve Schwarzman is the co-founder and Chairman and CEO of Blackstone, which is the largest alternative asset management firm in the world. Schwarzman has built a financial colossus and extraordinarily successful asset management firm that is by far the global leader in alternative investments.

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Posted in Advice, Investing, News, Trends, Uncategorized, Wealth

What Is Your Story? Creating A Story Where You Are The Hero

Marc Andreessen said something in an interview that I have thought a lot about over the years. I have been a big fan of Joseph Campbell who was an expert on myths and deconstructing the hero’s journey into its most important components and structure.

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Posted in Advice, Investing, News, People, Trends, Wealth

Has The Performance Of The S&P 500 Always Been So Top Heavy?

S&P 500 Top Heavy

Technology stocks, particularly large capitalization ones, have been on a tear as the following chart shows.

S&P 500 Technology

Since there is overlap between the two indices, I was curious to know how the largest technology companies have impacted the overall S&P 500 return.

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Posted in Investing, News, Stock History, Trends, Uncategorized, Wealth

Deep Domain Knowledge – Finding Your Calling

niece Dr. Wolf - May 2017

A few weeks ago I referenced Bob Dylan’s recommendation that we find our calling. I saw this in action last week and had this supplemented by some of the things I read. I had the pleasure to go to Philadelphia to attend the graduation of my niece from the University of Pennsylvania where she was awarded a Ph.D.

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Posted in Advice, Economy, Investing, News, People, Personal, Uncategorized, Wealth

Dynamic Disequilibrium – New Era in Retail REIT’s and Housing

Housing Retail REIT

Key economic data and stock prices almost always change before the narrative does. Although the housing meltdown didn’t really come into force until 2007, new home sales had already peaked in 2005 and this corresponded with the stock price of home builders hitting all-time highs. The first chart shows new home sales topping out in July 2015 and the same for Lennar’s stock price as the second chart depicts.

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Posted in Economy, Housing, Interest Rates, News, Stock History, Uncategorized, Wealth

Shifting Into Reverse – Where is The Auto Market Headed?


Auto sales have been one of the real bright areas of the economy ever since the “Cash for Clunkers” program ended and sales dropped back down to recessionary levels. The following chart shows how they have grown by approximately 100% from trough to peak.

Auto Sales

US Total Auto Sales


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Posted in Economy, Interest Rates, Investing, News, Trends, Uncategorized, Wealth

I Didn’t Build That!


I have to confess that I’m feeling a bit guilty about something. A few weeks ago someone sent me a message on LinkedIn within 15 minutes (if not less) of me accepting his connection request. My usual experience with that one-two punch is not very favorable as it often relates to someone wanting to sell me something,

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Posted in Economy, Investing, News, Trends, Wealth

Man Up Revisited – Winners Like Apple and Amazon


Last week I discussed a fascinating study that asked whether stocks outperformed T-Bills. Surprisingly, the answer was that most stocks do not and the bulk of stock market returns have come from an incredibly small number of companies that have produced the estimated $32 trillion in wealth (returns in excess of T-Bills) between 1926 and 2015.

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Posted in Economy, Interest Rates, Investing, News, Stock History, Trends, Uncategorized, Wealth

Bessembinder: A Fascinating But Skewed Study


In reading @jesse_livermore’s latest and always brilliant missive/analysis, he referenced and linked to a study by Arizona State University professor Hendrik Bessembinder entitled “Do Stocks Outperform Treasury Bills?” It seems like a pretty ludicrous question since our capitalist system is supposed to reward risk takers.

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Posted in Economy, Investing, News, Wealth

It’s Got to Get Better in a Little While…Or Does it?


Jamie Dimon and Ray Dalio have both come out and said that despite America being such a strong country and performing well economically, not all is right when looking under the hood.

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Posted in Apartments, Economy, Interest Rates, Investing, News, Wealth


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