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Over modern U.S. history, we’ve hardly gone a moment without hearing predictions of America’s imminent downfall. In that sense, you might say that declinism is one of the great American past times. During his 1960 Presidential campaign, John F. Kennedy painted a scary picture of a Russian enemy well on its way to world domination […]
Over modern U.S. history, we’ve hardly gone a moment without hearing predictions of America’s imminent downfall. In that sense, you might say that declinism is one of the great American past times. During his 1960 Presidential campaign, John F. Kennedy painted a scary picture of a Russian enemy well on its way to world domination […]
On April 2nd, President Trump’s announcement of new tariffs triggered a global equity sell-off. In their current form, they will affect nearly all U.S. trade. The speed and scale of these trade actions have been stunning. Using the President’s first term as a point of reference, tariffs were levied about 14 months into the term, […]
Clifford Swan
The following message was originally distributed to clients on April 4, 2025. Yesterday, the President’s “Liberation Day” tariffs sparked the stock market’s worst trading day since 2020. That volatility could continue. In the fog of bad news, our reflex is to look to expert predictions. It gives us the illusion of control. But time and […]
David Y. Lin, CFA
Over modern U.S. history, we’ve hardly gone a moment without hearing predictions of America’s imminent downfall. In that sense, you might say that declinism is one of the great American past times. During his 1960 Presidential campaign, John F. Kennedy painted a scary picture of a Russian enemy well on its way to world domination […]
David Y. Lin, CFA
While computers have only been around since the 1950s, our fascination with artificial intelligence goes all the way back to early recorded human history. As a species, we can’t help but want to project human qualities onto non-human things. The first known robot was built in ancient Greece, an automatic maid that would pour wine […]
David Y. Lin, CFA
In life, few things put us at the mercy of our emotions the way investing can. The last three years in the markets have been especially unnerving, exhibiting the plot elements of a Shakespeare play. We witnessed drama as the world locked down during Covid, a supernatural-like intervention by Congress and the Federal Reserve to […]
David Y. Lin, CFA
Take yourself back to 2019 when the year was drawing to a close. Imagine being told:2020 will be the year when our hospitals will be overwhelmed, offices will close indefinitely, scores of workers will be sent home and lose their jobs, and the developed world will be on sporadic lockdown. Now, imagine also being told that […]
David Y. Lin, CFA
In 1965, a company in the S&P 500 Index had an average life of 33 years. Incredibly, that number is now down to 18 years and falling.What’s driving the change? Technology has a lot to do with it as entire industries have been reshaped, from the way we shop for clothes to how we power […]
David Y. Lin, CFANext Up
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