By Lewis Johnson - The US Federal Reserve’s Quantitative Easing (QE) program of bond buying has been one of its most controversial policies in recent years. In this week’s Trends and Tail Risks, we examine QE by[…]
By Lewis Johnson - After a long hiatus, gold’s quiet outperformance (up 9.6% YTD) is slowly working its way back into the financial pages. However, gold took its time getting back there. After all, the price of gold[…]
By Lewis Johnson - Financial history is fascinating. History offers nearly endless lessons from which we can learn, if we would only but study them. Of all the examples of financial history I have studied, one of the[…]
By Lewis Johnson - As value investors we sometimes find ourselves in the most obscure parts of the market. We end up there by design, because we are constantly seeking to limit downside risk by investing in securities[…]
By Lewis Johnson - Last week we explored commodity prices to illustrate simply how supply and demand interact with prices to drive real responses in the economy. Prices make things happen! There is a deeper truth,[…]
