Last week, bitcoin hit a new high, topping $112,000 for the first time. Over the past 12 months, it’s gained an impressive 55%. What’s driving these gains, and what should you make of it? There are, in my view, three key factors. Two are new. One is not. First was a policy change last year: The [...]
Boring but important
If the name Liz Truss sounds vaguely familiar, there’s a reason for that. Truss was once the prime minister of the U.K.—but for just 45 days. How did Truss lose public confidence so quickly? In short, the bond market forced her out. Shortly after taking office in the fall of 2022, Truss proposed [...]
The Clements Family Financial Lab
When his children were little, Jonathan Clements often joked that he had a special incentive to see them succeed financially. As The Wall Street Journal’s longtime personal finance columnist, “it would be a tad embarrassing,” he said, if his children “grew up to be financial ne’er-do-wells.” For [...]
Golden opportunity?
It’s been quite a year for gold investors. While the stock market has struggled, gold has continued to hit new all-time highs, topping $3,500 per ounce for the first time a few weeks ago. Year-to-date, gold has gained nearly 30% while the S&P 500 is in negative territory. This has certainly [...]
Uphill battle
About 10 years ago, Steve Edmundson, the manager of the Nevada state pension, became a folk hero in the investment world when The Wall Street Journal profiled him in an article titled: “What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing.” It was an exaggeration to say he did “nothing,” [...]
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