I realize that this title may ruffle more than a few feathers. It is intentionally dramatic and thought provoking. Bitcoin has been all over the news lately after reaching new highs and taking dome deep dives. The Earth keeps turning. And turning. And turning. But that beautifully symmetric pattern is starting to wobble - and we humans may have something to do with this anomaly. Mother Earth First You do not have to be Captain Obvious to realize that Mother Earth came first in the grand chronological pecking order. We have (or perhaps had) everything we need to sustain life on this planet in the form of clean air, fresh water, and radiant sunshine. The fruits of our labor will soon sprout from the ground and we will be rewarded with beauty to the eye, fragrance for the nose, and taste in our hungry palette. We have everything we need for life, liberty, and the pursuit of happiness. As long as we do not destroy it. Bitcoin Distant Second In the event named the 100 Guineas Cup, several s...

Some of us from Generation X or Generation Y may remember the Walt Disney cartoon series that aired every weekend named Looney Tunes. This series was masterfully created in vivid detail using thousands of drawings for each weekly episode. What was perhaps most amazing about these entirely entertaining cartoons is that ALL of the voices were recorded by one person. Mel Blanc was often referred to as “the man of one thousand voices” for his ability to portray almost any character during the golden age of Hollywood. One of Mel’s most dynamic assignments was to bring rifle-toting Elmer Fudd to life as he pursued Daffy Duck and Bugs Bunny for a little sport shooting. Watch  HERE . Duck Season? My late father used to hunt ducks with my  grandfather when they lived down in Essex, CT. It was one of their favorite activities during the late fall and early winter as they climbed into their duck boats and paddled through Middle Cove and around Knot Island. My late mother lovingly remarke...

An Ownership Stake When investing in a bond, there is a certain amount of faith that can be placed in the capital markets system in general and the bond certificate buried deep in our grandparents safe deposit box at the local bank. The large black and white words on the certificate describe all the good things that will come to the bondholder and when they can expect their just rewards. The so-called “Murphy’s Law” comes to mind when thumbing through the underlying prospectus where it describes everything that can go wrong in preventing the bondholder from realizing the expected cash flows. Investing in stocks is similar in nature to investing in the bonds of a nation, state, city, or corporation. Capital is pledged to help the entity survive and thrive for a period of time with an expectation that there will be a fair return for the risk taken by the stockholder. That is where the comparison takes a fork in the road, however, because a stock certificate represents an ownership stake ...

This Time Is Different According to Sir John Marks Templeton, the four most dangerous words for an investor are “this time is different.” Mr. Templeton grew up in Winchester, TN during the roaring 1920s before attending Yale University and graduating in 1934. He was an avid and skilled poker player - earning enough money to help finance his education. Sir John’s probability skills were not wasted on the pure folly of card games as he studied under Benjamin Graham (known as the “father” of value investing) before becoming a CFA Charterholder. If Ben Graham was the father of value investing, then Sir John may have been known as the father of international investing. He founded the Templeton Growth Fund in 1954 and positioned it to be one of the first mutual funds that invested into Japan and other international markets during the 1960s. His fund returned a compound annual growth rate of 15% over a 38 year period - providing positive real (inflation-adjusted) returns during each 5-year ro...

I must admit that I have some catching up to do.  Not only did I miss the fanfare surrounding International Women's Day on March 1st, but I have yet to acknowledge that March is (among other things) Women's History month. There is a reason for my delay. It is not an excuse, but I think that since females make up roughly 50% of our population that half of the days, weeks, or months of the year should be dedicated to the amazing women who have helped us survive and thrive through these turbulent times. I am a firm believer in equal pay, equal rights, and equal opportunity - for ALL. Women Are From Venus? Venus was the Roman goddess of love and beauty. Her mythical powers were claimed to ensure victory on the battlefield and love in the bedroom. Clearly, worshiping her was a prerequisite before bringing males and females together in holy matrimony. Roman mythology suggests that Venus was born of sea foam. Venus is also the name of the second planet from our sun. It is the brighte...

Cooking is the science - and art - of combining different ingredients together to create something that nourishes our body and also pleases our palete. Some might say that cooking is more art than science and that investing is more science than art. One of the ingredients in our investing recipe is bonds. Like the food pyramid, they can be thought of as the layer just above the base (cash) that tends to keep our financial world from toppling over. What Is A Bond? A bond - or fixed income instrument - is essentially an IOU. It is inevitable for some embarrassed student to forget their lunch money on the first day of school. Those of us who had enough spare change might loan money to our new classmate and request that they give us a cryptic note documenting their name, the date, and the amount owed back to us. A bond is a similar "contract" where the borrower (that poor kid) agrees to pay back the principal (the amount borrowed) plus some interest. The interest rate charged may...