Running Out of Options

By | May 15th, 2017|Advisor Insights|

History tells us that today’s option market can trace its notional roots back to ancient times, when one Thales of Miletus bet the farm on the season’s olive harvest. Story goes that the speculative Greek, having predicted a larger than usual crop yield, acquired the right to use a certain number of olive presses the [...]

The Grass Is Always Greener, Dude

By | April 25th, 2017|Advisor Insights|

If you missed it — and if you’re gainfully employed you probably did — last Thursday was “Weed Day,” or as cannabis aficionados like to call it, uhhh 4/20 man. The term, we’re told, was coined in 1971 by a group of California fast time high school students who would meet at 4:20 p.m. every [...]

Beep Beep’m Beep Beep Yeah

By | April 11th, 2017|Advisor Insights|

Baby you can drive my car. Last month, GM sold 256,007 cars and trucks in the U.S. while Ford moved some 234,895 vehicles off the lot, the two big Detroit jalopies representing more than 31% of total domestic auto sales. Palo Alto-based Tesla, meanwhile, pumped out a whopping 4,050 of its electric lizzies, or 0.3% [...]

Flash In The Pan

By | March 28th, 2017|Advisor Insights|

It’s likely that you first heard about high-frequency trading way back in 2014 when Michael Lewis published “Flash Boys”. In his book, the supremely talented Mr. Lewis described how high frequency traders, through the use of lightning-fast fiber optic lines, were taking advantage of investors by “front running” orders. Meaning they were buying ahead of [...]

Snap, Pop, No Crackle

By | March 14th, 2017|Advisor Insights|

Even if you’re not one of 158 million people who use Snapchat on a daily basis, you probably know that the parent company of the disappearing photo-and-video app went public last week. As it happened, Snap and its bankers priced the much-coveted IPO Wednesday night at $17 a share, only for the stock to open [...]

Face Value

By | February 27th, 2017|Advisor Insights|

Pop Quiz: Who famously said: “If you want to have a better performance than the crowd, you must do things differently from the crowd." Circle the correct answer. A: Benjamin Graham B: John Templeton C: Warren Buffett While each choice represents a great investor, a great value investor more specifically, market veterans will recall this [...]

All That Twitters Is Not Gold

By | February 13th, 2017|Advisor Insights|

Question: What do the current Prime Minister of Australia, the former governor of California, and future federal funding for UC Berkeley have in common? Hint: messages from the White House in a limited number of characters. Yep, all three have been subjects of at least one tweet from President Trump over the last few days. [...]

Defying Gravity

By | January 31st, 2017|Advisor Insights|

Unless you’ve been on a seemingly routine spacewalk and your shuttle was destroyed, you’re probably aware that the Dow Jones Industrial Average just closed above 20000. Who on earth isn’t? That’s because the ageless index attracts an outsized level of attention whenever it clears a thousand-point hurdle. Fact is, though, there’s really nothing magical about [...]

A Bit Too Much

By | January 17th, 2017|Advisor Insights|

Other kids' games are all such a bore! They've gotta have rules and they gotta keep score! Calvinball is better by far! It's never the same! It's always bizarre! — Excerpt from the Calvinball theme song For reasons known only to Calvin and his anthropomorphic buddy Hobbes, cartoonist Bill Watterson concluded his popular cartoon strip back [...]

Happy Old Year

By | January 4th, 2017|Advisor Insights|

“Auld Lang Syne", as you might know, is an old Scots poem set to the tune of an old Scots folk song. Which means the old Scots words are incomprehensible anywhere outside of a few pubs along the Firth of Clyde. As a result, the song's title has been translated into standard not-Scots English as [...]