17 02, 2022

The Inflation Equation (Part 2)

By |2022-02-22T15:29:27+00:00February 17th, 2022|Uncategorized|0 Comments

Is inflation real or monetary? Source: Dallas Fed, World Market Advisors Last week I discussed the inflation equation, the formula that Milton Friedman popularized to explain the double-digit inflation of the 1970s. MV = PY M is money, V is velocity, Y is the real economy, [...]

11 02, 2022

The Inflation Equation

By |2022-02-11T15:00:25+00:00February 11th, 2022|Uncategorized|0 Comments

What causes inflation? Source: Cleveland Fed, World Market Advisors I’m old enough to remember public service ads on television asking us that very question. They had characters playing grocery shoppers, business managers, and blue-collar workers. The ad blamed shoppers for not looking for the best deal, [...]

27 01, 2022

Designing Better Portfolios

By |2022-01-27T19:59:11+00:00January 27th, 2022|Uncategorized|0 Comments

Is investing an art or a science? F-5E Tiger II. Source: Wikipedia This seems a straightforward question. Portfolios are matters of math, return, cash flow, and valuation. But putting them together is complicated. It’s not just how different investments behave in different economic environments, it’s also [...]

2 12, 2021

Inflation Liftoff – Part 2

By |2021-12-02T20:53:38+00:00December 2nd, 2021|Uncategorized|0 Comments

You can’t get something from nothing. Illustration: Randall Munroe. Source: Wikimedia It’s the same principle as the conservation of mass, or conservation of energy, or conservation of momentum. In nuclear physics, when deuterium atoms merge to form a helium atom, a teeny-tiny amount of mass is [...]

11 11, 2021

Inflation Liftoff – Part 1

By |2021-11-11T17:59:11+00:00November 11th, 2021|Uncategorized|0 Comments

Can we protect ourselves from inflation? Photo: Eric Ward. Source: Flikr. CC BY-SA 2.0 The answer may surprise you. Yesterday we received news of a dramatic increase in inflation. The headlines focused on the year-over-year number, but that misstates the problem. After all, a year ago [...]

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