While everybody was watching winter’s last fury for this year (I hope), the Fed released a little-noticed report on its annual “stress-tests” of the 31 largest banks in the United States. The good news was that all 31 have passed and with relative ease. The better news is that the test was actually severe enough … Continue reading A Boring Big Deal
The Flinchum FileThoughtful Economic Analysis and Existential Opinions
My favorite professor at Wharton – the brilliant but affable Dr. Jeremy Siegel – enjoys a reputation for being an accurate forecaster as well as a “perma-bull,” i.e., someone who always thinks things will get better. Yesterday, he pointed out that the PE ratio for the S&P 500 is now 19 times last year’s earnings … Continue reading “Uncle” Jeremy Semi-Warns
Here, at the corner of Good Planning and Good Living, where I practice, I usually feel an obligation to teach my clients whenever possible, or at least, to help them see a wrinkle in their perspective that might be helpful. Quite often, they teach me. Recently, I was visiting a client and discussing the requirement … Continue reading That Fearsome Number
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