Quarterly Newsletter July 1, 2015

Thinking about the next 5 years, we wonder what will happen to inflation and interest rates.  As you know, the Federal Reserve has held rates down close to 0% for an extended period of time to stimulate the economy.  The graph below shows the 90-day Treasury bill yield, the 10-year Treasury bond yield, and the […]

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Quarterly Newsletter April 1, 2015

In Life on the Mississippi, Mark Twain tells of thriving 19th-century towns booming with riverboat freight and passenger traffic, that suddenly found themselves stranded – and ruined – when the mighty, meandering, unpredictable river flooded, and the channel made a short cut across a loop, moving several miles away and bypassing the little town completely. […]

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Quarterly Newsletter January 1, 2015

We have had quite a ride over the past 5+ years with the Dow Industrials going from 6,500 to roughly 18,000 today.  As you know, we lay no claim to market clairvoyance, but common sense (which we do lay some claim to) would suggest it might be a good time to lighten up a bit.  […]

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Santa’s List, 2014 Edition

While stocks have dropped “only” 5% in the most recent market swoon, it seems a lot worse.  Volatility has sharply increased, and world markets are seeing a lot more collateral damage than they have in a long time.  Russia’s stock market and currency are collapsing, junk bonds are losing big money, and of course, energy […]

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Is it Correct to Call this a Correction?

Whenever the market is in the midst of a selloff, no one is ever sure when or where it will end.  The S&P 500 has now nearly fully “corrected” from its intraday high on September 19, down almost 10% to its intraday low on Wednesday afternoon.  The Dow fell only 8%, the Nasdaq 11%, and […]

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Corporate Inversions Explained

The Wall Street Journal last week featured a front-page article by Gerald Seib about how ISIS has upended President Obama’s second-term agenda.  He writes, “Obama has become only the latest American president to learn that history doesn’t afford the occupant of the Oval Office the luxury of choosing what kind of presidency he gets to conduct.  A […]

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What in the World is Going On?

Lately, there seems to be a common refrain among any human being who pays attention to the news.  There are many ways to phrase it, but we can generalize them into one catch-all question:  “What in the world is going on?”  Equally apropos would be something like “What the **** is going on in the […]

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Franklin Electric: A Changing of the Guard

We attended the Franklin Electric annual shareholders’ meeting today, as we do every year.  The venue has rightfully changed this year, symbolic of a changing of the guard at the top of the company.  For a long time, the company held the annual meeting at their headquarters in Bluffton, then decided to rotate it around […]

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Highlights from the Monarch Winter Lunch

At the risk of talking about the weather too much, it is mandatory that we mention the foreshadowing to last Tuesday’s lunch, if only on account of the high number of customers who brought their invitation to lunch to blame us for the snow.  Our invitation, mailed over 1 month ago, referenced that this was […]

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Fall 2013 Seminar Recap

Thanks to all who joined us at the Fort Wayne Museum of Art for our annual seminar on September 20. Investments, food, drinks, and Dale Chihuly were the highlights of the evening. We made mention that Monarch is now in its 20th year, having been founded in August, 1994. Next August, we’ll host a grand […]

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