The most popular strategy in the tech world has stopped working. That's good news for all of us. Read More
Hundreds of thousands of people are creating companies each year, ending a decades-long drought. Read More
Treasury is issuing record debt into a market that is increasingly unfriendly to profligate governments. Read More
Harvard is thriving. So are Stanford and Princeton. See the tuition charged by all three: at Harvard it’s $59,000, at Princeton... Read More
Early moves presage a return to a humbler Federal Reserve and a smaller balance sheet. Read More
Most active managers do not lose because they are lazy or uninformed. They lose because the investment process is built around habits that... Read More
New technology comes with massive overinvestment and an over-allocation of capital toward that technology. This turns out not to be a... Read More
A GE Appliances plant in rural northwest Georgia was short hundreds of workers amid COVID-19. A flexible work option where some workers can... Read More
Visa holders founded half of today's Fortune 500 companies and a majority of billion-dollar startups. Current restrictions damage that... Read More
The OxyContin epidemic had large demographic effects on communities in the United States. In new research, Carolina Arteaga, Victoria Barone,... Read More
....‘work is not simply an instrument; it expresses and enhances the dignity of our lives. It is a requirement of the human condition,... Read More
The success of Norway’s athletes might be rooted in the way its youth learn sports – by first focusing on the process, rather than on... Read More
How accurate are Wall Street analysts? Read More
On October 19, 1987, IBM crashed 24.7%. On July 14, 2026, the stock plunged 25.2%. We include a list of Dow-30 stocks currently in the index... Read More
Presidents have repeatedly used the SPR to manipulate markets and shield consumers from the consequences of bad policies. Read More
True wealth is owning your time. Read More
Electricity demand is becoming the clearest measure of the AI industry's extraordinary expansion — and a test of how long... Read More
One of the key signs of a stock bubble is the issuance of new stock. Read More
Why the debasement theory has the direction right but the speed wrong. Read More
A bottom is now in for trade between the U.S. and China. It might even be *the* bottom for the global tariff war that began in April 2025 but... Read More
The stocks of these high-quality companies look cheap today. Read More
The dividend outlook of the S&P 500 had a mixed outcome for July 2026. Read More
Raising the full year return forecast. Read More
Not so magnificent after all. Read More
Energy is the best performing sector month to date. Read More
The Shiller Cyclically Adjusted Price-Earnings (CAPE) hasn't been useful for quite a while. An explanation.iller Read More

Bad policies almost always start with bad stories. Few economic narratives have been as persistent or as wrong as the idea that the United States remains dangerously dependent on oil. Twice in recent years the nation has been warned that an oil shock would cripple the global economy. First, Russia’s 2022 invasion of Ukraine, and today the Strait of Hormuz closure have led to predictions of e... Read More
Most active managers do not lose because they are lazy or uninformed. They lose because the investment process is built around habits that clash with how humans think.... Read More