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Someone finally described how I’ve been feeling . . .

I was recently listening to one of my favorite podcasts, Masters in Business with Barry Ritholtz. (I urge everyone to listen to the weekly interviews, they are fantastic!) One guest on the podcast said some things that explained exactly how I’ve been feeling for the past year. David Rosenberg was his guest. Mr. Rosenberg used to be the Chief Economist at Merrill Lynch and is currently the Chief Economist at Gluskin Sheff + Associates Inc, a Canadian Investment Advisory firm that manages several billion dollars. Below are two of my favorite segments of the podcast. Before you listen and learn from them, let me give you some background. In the industry there are two types of firms . . . Buy-side – Those that manage money for clients. Investment Advisors, including our firm, would be a buy-side firm. Sell-side – Those firms that sell products. Think of a broker-dealer that sells stocks, options, research, education, etc.
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Categories: Strategy.

December 16. An important date on the calendar.

December 16 is one important day. That is the day that the Fed (Federal Open Market Committee) will come out with the decision on whether they will be raising the Fed Funds rate .25%. There are, of course, two possible outcomes: Raise rates .25% while providing some of the most dovish language in history or . . . Push it back until 2016 because of inflation, global slowdown fears and low commodity prices. So what will happen? Janet Yellen herself hinted at raising rates in an address to college students. She said: “It will likely be appropriate to raise the target range of the federal-funds rate sometime later this year and to continue boosting short term rates at a gradual pace thereafter as the labor market improves further and inflation moves back to our 2% objective.” Note two very important things in her comments . . . “Labor market improves” – Certainly it
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Categories: Markets and Strategy.

One of the most important things you should do as an investor . . . (Icahn and Buffett)

One of the biggest issues with investors is expectations. We live in a world where people want every month, every quarter, every year to be profitable. This short term thinking destroys capital. I’ve seen it over and over again. People buy what’s hot in the market  and get burned when it falls. It’s THE vicious cycle for losing money.  So what should you do? Below are two of the most successful investors, Carl Icahn and Warren Buffett. They tell you in a very short and concise way what you should do. The problem is that it’s completely contrary to what everyone else in the world of investing actually does. Listen to Icahn and read Buffett and then decide what you’re going to do and how you’re going to act. First, Carl Icahn (for the whole interview with Icahn, click here) Second, Warren Buffett.     So you can do two things.
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Categories: Markets and Strategy.
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