This piece was originally published on July 11th, 2024 Overview: Today, we got the June Consumer Price Index (CPI) report which showed an overall increase of 3.0% unadjusted in the last year and DOWN 0.1% vs last month. That’s below last month’s 3.3% and expectations of 3.1%. The 0.1% monthly decrease was below the 0.1% … Read more
This piece was originally published on June 12th, 2024 Overview: Today, we got the May Consumer Price Index (CPI) report which showed an overall increase of 3.3% unadjusted in the last year and 0.2% vs last month. That’s slightly below last month’s 3.4% and expectations of 3.4%. The 0.2% monthly increase was below the 0.3% … Read more
This piece was originally published on May 15th, 2024 Overview: Today, we got the April Consumer Price Index (CPI) report which showed an overall increase of 3.4% unadjusted in the last year and 0.3% vs last month. That’s slightly below last month’s 3.5% and in-line with expectations of 3.4%. The 0.3% monthly increase was below … Read more
One of the best experiences I’ve had in my investment career was being partner and co-portfolio manager with Raji Khabbaz. He’s a fantastic stock-picker and the two of us spent the better part of a decade discussing and debating investment ideas. Early in 2020, we spent a lot of time talking about Covid, trying to … Read more
This piece was originally published on April 10th, 2024 Overview: Today, we got the March Consumer Price Index (CPI) report which showed an overall increase of 3.5% unadjusted in the last year and 0.4% vs last month. That’s above last month’s 3.2% and expectations of 3.4%. The 0.4% monthly increase annualizes to 4.9%. The Core … Read more
With inflation continuing to erode the purchasing power of the dollar and both gold and Bitcoin hitting all-time highs this month, there’s been increasing interest in the concept of what constitutes a store of value. Michael Gayed has asserted that a store of value can’t have tail risk. That means if an asset can have … Read more
