The Fuss Over High-Frequency Trading

Since the publication of Michael Lewis’s book Flash Boys, there has been a surge in the discussion about high-frequency trading and high-frequency traders (“HFTs”).  Individuals have for years been expressing opinions about the practice, which, at its core, is the use of high-speed computing and communications equipment to gain a trading advantage in securities markets.  […]

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A Dry State

In 2011 (“Water, Water, Every Where, Nor Any Drop To Drink”), we wrote about how a growing, industrializing world population was placing strain on the planet’s fresh water resources.  Back then there was an obvious need for governments to be thinking about expanding their water supply options.  Today, the issue is more urgent, and closer […]

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3D Printing

Perhaps better described as “additive manufacturing,” the so-called 3D printing industry comprises a relatively new group of technologies that allows the creation of solid objects from digital models.  We believe the moniker is somewhat misleading, because although some 3D printers and their components are reminiscent of traditional office document printers, their purpose and the end […]

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2014 – The Year Ahead

As the investment years pass by, certain things remain constant. Short-term stock market fluctuations are a function of investor reactions to developing news events, while longer term they’re all about the growth of corporate profits, dividends, and changes in valuation. What were the investment consequences of the crash of 1987, the tragedy of 9/11, or […]

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Cyber Security

"To err is human, but to really foul things up requires a computer."  Farmer's Almanac, 1978. Definition of Cyber: of, relating to, or involving computers or computer networks. In today's world, where practically everyone is digitally connected to everyone else via computer or at least cell phone, the need for cyber security has assumed tremendous […]

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Currency War

The concept of a currency war may sound odd, but such a war can have serious consequences and, in fact, we are currently in the midst of one. Therefore, it is worth while examining the nature of this conflict and its potential impact on the U.S. currency, economy, and stock and bond markets. While currencies […]

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Demographics – America’s Long-Term Advantage

There is one thing we know for certain about stock market returns: You can’t get them over the long term without economic growth. And economic growth doesn’t happen without either a growing labor force or improving productivity. At a time of positive but sluggish economic progress in the U.S. and recession in much of the […]

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2013 – The Year Ahead

The U. S. election is history, but substantial questions still remain. For investors there are three significant unknowns: the fate of the eurozone, the rate of Chinese economic growth, and of course, the eventual outcome of our own economic and fiscal difficulties. As we look forward, these issues are the likeliest sources of investment risk. […]

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Re-“Made in the U.S.A.” – the Coming Manufacturing Renaissance

Get ready to start learning some new buzzwords. In the next few years, “onshoring,” “reshoring,” and “insourcing” are going to become part of our economic lexicon, due to the fact that the U.S. is rapidly becoming the location of choice for new manufacturing facilities. This puts the lie to what has long been an article […]

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Energy Independence – More Than Just a Pipe Dream?

The world’s developed economies are struggling. At home we have enormous budget deficits and what can only be termed a dysfunctional government. Across the pond, the rather significant problems in the eurozone hit the headlines almost daily. Yet we are encouraged by several major longer-term developments, at least as they impact the United States. Our […]

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