Last week's issue generated more thoughtful replies than we expected. What struck me wasn't that some of you disagreed with a point or two. It was what you agreed on. Almost nobody argued that nothing ...

Last week I noted the problems of sitting down with a blank screen and trying to figure out what to write. This week I have the opposite problem: I have well over 20 important research notes from ...

I have a lot of short conversations about dividend stocks. They go something like this: “Oh, your specialty is dividend ...

For roughly three decades after World War II, worker pay rose almost one-for-one with productivity. As the economy grew, so ...

Jacob Shapiro is an independent geopolitical analyst who helps investors and executive teams understand how a multipolar world is reshaping markets and strategy. He provides bespoke research, private ...

As I sat down to start my work week, I realized that I didn’t eat a single hot dog over the holiday weekend to celebrate the ...

July 4, Puerto Rico and How to Feel Good about America This letter is going to be a little different, and much shorter. But on July 4 I hope it makes you feel good! Regular readers know I spend most ...

Over the weekend, I was talking with a family friend who was moving some money around. I asked what he planned to do with the cash left over. I was hoping his answer wasn’t put it in a low interest ...

When we talk about inflation, the conversation usually centers on periods (like now) when inflation is especially high. Those are certainly problematic. But we can overlook a possibly bigger problem: ...