Upsetting the dollar cart? The year 1971 has been on my mind a lot this week. On a personal note, my wife and I have been staying at one of Arizona’s oldest and most charming resorts, the Wigwam, right outside Phoenix. It was established in 1927 by the Goodyear (as in tires) family on a “mere” 17,000 acres. Upon arrival in those days, guests were given a key—and a horse! Even on horseback, it must have taken weeks to see the entire spread.
Bye-bye buy-backs? First of all, Happy 2017 to all our EVA readers! Hopefully, the coming year will provide an opportunity for those few remaining contrarians out there—amongst a swelling throng of passive investors—to generate respectable profits and nail down some attractive yields. It’s also my hope that what I’m going to convey next won’t severely undercut the happy New Year sentiments I’ve just expressed.
“If Trump wins, I’m leaving the country. If Hillary wins, I’m leaving the country. This is not a political post; I just want to travel.”
Stop the presses! Writing a weekly newsletter is an interesting exercise in time-management,
“Impressive scholarly research has demonstrated that the government spending multiplier is in fact negative, meaning that a dollar of deficit spending slows economic output.”
-Economist and bond manager extraordinaire, LACY HUNT
“And you experts in the law, woe to you,
“Each generation will reap what the former generation has sown.” -CHINESE PROVERB
“If everybody is thinking alike, then somebody isn’t thinking.” -GENERAL GEORGE PATTON
This month’s Gavekal-authored version of the Evergreen Virtual Advisor addresses what seems to be on everyone’s mind these days—you guessed it: The US presidential election.