Muhlenkamp Library

Archive of August 30, 2018 Webcast

During our webcast, Ron and Jeff updated participants on the changes in the economic indicators that they monitor and the potential threats and improvements to the U.S. economy and asset markets. They believe the U.S. government has removed some impediments to business, but are wary of cross-currents that might create problems. They also talked about what they are seeing in foreign economies, especially changes to the currency rates compared to the U.S. dollar and the ongoing changes to trade and tariffs.
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Muhlenkamp Memorandum Issue #127

Ron and Jeff state in their quarterly letter that the U.S. economy is doing well, but there are a number of things that could start to cause problems. In his article, "Relevant Elements for Investment Strategy," Tony looks into a few factors of investing such as time horizon, risk management, and price. Details on our upcoming webcast are included.
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Quarterly Letter, July 2018

Allow us to summarize what we’re seeing so far this year. The U.S. economy is doing well, with 1st quarter Gross Domestic Product (GDP) growth coming in at 2%, unemployment in May was a low 3.8%, and inflation was 2.8%. The interest rate on 2-year U.S. Treasury notes at the end of June was roughly 2.5%, 10-year U.S. Treasury notes yield almost 2.9%, and the average 30-year fixed mortgage rate in the county is 4.4%.
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Archive of May 24, 2018 Webcast

During our webcast, Ron and Jeff walk through a number of economic and financial indicators to better understand the U.S. economy and asset markets. They conclude that the economy will likely continue to grow at 2% or a little better, but that rising interest rates and other actions of the Federal Reserve increase the likelihood of problems with businesses or countries that need low interest rates to survive. They believe the markets will remain volatile as investors grapple with these two diametrically opposed pressures.
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Muhlenkamp Marathon

There are many similarities between training for a marathon and creating a legacy of financial freedom—both take desire, time, effort, and discipline. Our "Muhlenkamp Marathon Financial Training Workbook" contains 26.2 “miles” of financial information to use as a reference guide to keep you on course, including best practices based on current tax rules and regulations, as well as words of wisdom based on experience, observation, and statistics.
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Working, Saving, and Investing

When Jeff's (co-manager's) teens started asking questions about Ron’s investing process, he found it difficult to answer them well because every question they asked required explaining at least three additional concepts. These concepts are both fundamental and critical to the exercise, so he organized his thoughts and tried to keep it very simple and clear.
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