October 24, 2017 in Investment Commentaries | by Brian Heider

The Unwinding of the Federal Reserve's Balance Sheet

“All good things must come to an end,” as the saying goes, right? As we move towards year end, the elephant in the room is the Federal Reserve’s balance sheet.  Read More

August 22, 2017 in Investment Commentaries | by Brian Heider

Too Much of a Good Thing – Fall Investment Commentary

One of my favorite books, Tim Keller’s Counterfeit Gods, talks about how it is often good things, when taken to extremes, which get us in trouble in our lives. Such is true in investing as well.  Read More

August 05, 2016 in Investment Commentaries | by Dhruv Maniktala

Summer 2016 Investment Commentary

For the past few years, headlines of quantitative easing, zero interest rate policy, and the “reach for yield” have consumed many financial news cycles. The fact that we are in a low interest rate environment is not news. However, the prevalent interest rate headline in 2016 is truly remarkable:... Read More

February 25, 2016 in Investment Commentaries | by True North Advisors

Winter 2016 Investment Commentary

Borrower: "So, what is the interest rate on this loan?" Lender: "Since your income growth is much slower than before, we'll charge you 4%." Borrower: "How about I tell you how much I'll pay?" Lender: "You paid 6% on your last loan; this is a good deal." Borrower: "I'd like to pay 2.5% this time."... Read More

February 25, 2016 in Investment Commentaries | by True North Advisors

Fall 2015 Investment Commentary

What is your favorite four-letter word? Personally, I don't have a favorite, but there is one I dislike a lot: RISK.  It's not the word itself that bothers me; it's the usage.  I think it's used too liberally and generically to describe just about everything, from career risk, to political risk, to... Read More
   

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