Alhambra Investments

Questions, questions, questions. Investors always have lots of questions, most of them about the future, which makes them very hard impossible to answer. That doesn’t mean the questions aren’t worth asking though, which is why I do this every few months. Thinking about what we don’t know can prepare us for the future no matter how it turns out. And today, as always, there are...

I write an overview of the economy about once a month and for the longest time the entire thing could have been summed up in a single sentence: nothing has changed since the last time I wrote about the economy. Of course, over a month we shouldn’t expect much change but even over longer periods, the economy is remarkably consistent. That doesn’t mean we don’t see big changes ...

Faced with a choice between changing one’s mind and proving there is no need to do so, almost everyone gets busy with the proof.

J.K. Galbraith

I’ve learned so much from my mistakes, I’m thinking of making a few more.

Anonymous

I was prepared to dislike our new Fed Chairman, Kevin Warsh. His past track record at the Fed stood out for all the wrong ...

You can’t take the same actions as everyone else and expect to outperform.

In order to outperform, by definition, you have to depart from the crowd. You have to hold a different position.

If your portfolio looks like everyone else’s, you may do well, or you may do poorly, but you can’t do different. And being different is absolutely essential if you want a chanc...