Global markets have sold off pretty hard to start the week.  Most of the narrative surrounds the Chinese property market and one of their largest developers, Evergrande.  China’s government is clamping down on leverage and demanding many industries to buy in, literally, to their social objectives via cash “donations”, cheaper housing, etc.  Both the Shanghai...Read More

2013 was a banner year for equities and optimism seems to be quite pervasive following that.  I regularly speak with market participants that are expecting 10%+ annual returns over the next decade and I believe that the likelihood that they will achieve that is quite slim.  Warren Buffett has mentioned that the ratio of Total...Read More