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Q1 2019 Market Returns

Success as an investor has little to do with intelligence or staying on top of the latest news. In fact, some activities that are commonly engaged in as part of the investment process for many can be counterproductive.

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The Preeminence of Capitalism

I recently read a study which indicates that “Generation Z” (adults aged 18 to 24) preferred socialism to capitalism.  This is undoubtedly an indictment of the poor-quality of economic education in the American secondary and post-secondary educational system.  AND, perhaps it’s an indictment of parents who have raised children to believe that anything that is not equal is somehow “unfair” and therefore requires parental intervention to make it so

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Deficits and Debts

First, let's agree on definitions. By "deficit" I mean the amount by which government revenues (read: taxes) are less than what it spends in a given year. Second, by "Debt" I mean the accumulation of all the previous year's deficits. Another way of thinking of this is the total amount of what is owed by the government (read: taxpayers).

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