Don't miss our next webcast! You can join Tony Muhlenkamp as he hosts a chat with portfolio managers Ron and Jeff Muhlenkamp. They will share their observations on the markets and the economy and what they feel is important to monitor.
Ron's maxim, “When you change the rules a little, you change the game a lot,” applies to many things in life. During our webcast, Jeff and Ron looked at the potential impact and the second and third effects that changing policies and regulations by President Trump and his new administration could have on the economy. Since the last recession, small businesses have been reluctant to expand because they were unsure of the rules: the possibility of increased taxes, expanding healthcare costs, and more regulations. After the 2016 election, small business confidence spiked. Jeff and Ron debated what may have boosted optimism. They also talked about current interest rates, bond rates, the dollar, and ongoing concerns in Europe.
Is the economy back to pre-recessionary levels? Your answer may depend on what data you use and how you define your terms. Jeff and Ron walk through over 20 economic charts from foreign currencies vs. the dollar to their 10-point checklist they use as a guide. Here is an archive or our December 1, 2016 webinar.
Once again, the American public found a way to make their frustrations felt. As in most things in life, the answer to "what will happen next" is "it depends" and "wait and see." But we do have some general observations...
If you weren't able to join the February 25th conference call or you wish to review the conversation, an archive is available for your convenience. During our call, portfolio managers Ron and Jeff Muhlenkamp discussed what they’ve seen across global economies and markets—honing in on the U.S., and what they’re doing in response to preserve capital and build wealth. More >
Tony Muhlenkamp, President, hosted this conference call with Jeff Muhlenkamp, Investment Analyst and Co-Manager, where they discussed what's been going on this past quarter in the U.S. and abroad. Jeff talked about Japan's quantitative easing, Greece's debt problem, China's growth challenges, and changes in oil prices and other commodities. He also shared his thoughts on ETF's, earnings of U.S. companies, and the value of the dollar.
An archive of the conference call with our portfolio managers, Ron and Jeff Muhlenkamp is available. They discuss the economy, the markets, their investment outlook, and a few companies in our Top Ten Holdings, as well as respond to questions from participants. More >
Anytime we talk about currencies being devalued, or getting stronger, we have to include the question, "relative to what?" (as in, the U.S. dollar is stronger relative to the Japanese yen, or the Chinese renminbi is stronger relative to the euro, etc.). We also have to remember that a strong dollar is good for some, bad for others. More >
In Europe, Banco Espirito Santo, the largest bank in Portugal, has defaulted on interest payments on its bonds. Europe has not solved its problems. In the U.S., for at least the fourth consecutive year, estimates of real GDP (Gross Domestic Product) growth, which exceeded 3% prior to the beginning of the year, have been reduced to 2% or less by midyear (now). More >