On May 1, 2020, the United States Internal Revenue Service Large Business and International Division announced a new compliance campaign focusing on the 2017 Tax Cuts and Jobs Act and the recently enacted Coronavirus Aid, Relief and Economic Security Act.
40 Million Great Depressions
Harry Truman said “It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.” Truman was born in the 1880’s. In his young adulthood during the early 20th century, there was a recession or a depression or a panic or a stock market crash almost every year, though growing up in small town Missouri, he […]
Why Value Investing Will Never Die
[embedded content] Josh Brown and Michael Batnick discuss the recent rash of commentary about the “Death of Value Investing,” a discipline that has already died a thousand deaths before and yet is continually resurrected. Michael points out that growth investing is currently on a 30-year win streak versus value investing, while the distance between cheap […]
Artwork from the 1918 Pandemic
Taking a look back at the art, advertisements and political cartoons of the winter of 1918-1919 while the world was in the grip of the Spanish Flu, which ended up infecting as many as 500 million people, or one third of the world’s population. We didn’t have sophisticated equipment and laboratories to study the germ […]
tHe sToCk MarKeT is iGnorInG tHe rEaL EcONomY
Or…and hear me out…the stock market is doing its best to reflect the “real” economy. The real economy, however, has moved online. Companies that dominate online business also dominate the stock market’s capitalization. This is what the real economy currently looks like now, via Bank of America Merrill Lynch’s credit and debit card spending data: […]
Value Investing is Immortal
We’re having the “Value Investing is Dead” conversation again. It comes back for an eight-week run each year, like Game of Thrones used to. They bring back our old favorite characters – at least, the ones who haven’t been killed off by redemptions yet – and then introduce some new ones. But the plot cycle […]
Talking with Professor Galloway about the economy vs the stock market
Josh Brown joins Scott to share his thoughts on PPP and how you should be assessing the stock market. Scott also discusses the difference between tech giants Elon Musk and Jeff Bezos, and why Amazon is positioned for the biggest unlock in recent business history. Today’s Algebra of Happiness: Stop howling in the money storm. […]
You don’t even know what risk is.
I spend my waking hours thinking about risk. Risk in exchange for reward. Risk adjusted returns. Risk management. Business risk. Concentrated position risk. Counter-party risk. Liquidity risk. Sequence of returns risk. Longevity risk. Career risk. And then after thinking about it, I read some more about it. Then I write about it. Then I talk […]
The new financial advice show on CNBC
People have been saying for years that they wish there was a show on financial television about financial advice. On the network I am an on-air contributor to, CNBC, we do the best job in the world at covering markets and the breaking news that affects stocks, bonds, commodities, companies, workers, investors and traders. But […]
And Now…We Nest!
After the 9/11 attack, and partly as a result of the recession that was already underway before the event itself, the American consumer decided to stay home more. And staying home more led to a desire to improve the home. Or build a better home. Or repaint and refurnish the home. Or plan additions to […]