Muhlenkamp Library

Archive of August 29, 2019 Webcast

During our webcast Ron and Jeff Muhlenkamp examine some financial indicators to determine the overall health of the economy. In terms that we can all understand, they explain each chart, slide by slide, looking at both causes and symptoms of conditions that can lead to growth or decline. In summary, they share that economic indicators remain mixed, though a little worse off than last quarter. In some aspects of the economy, there has yet to be a full recovery from the previous recession. Are we headed for another downturn in the near future? See what your conclusion is after hearing their economic report.
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Muhlenkamp Memorandum Issue #131

In their Quarterly Letter, Ron and Jeff discuss the Fed’s actions on interest rates, trade negotiations with China, the United Kingdom’s progress with Brexit, and the indications of a slowdown in the United States. In his article, “Lions and Tigers and Bears, Oh My!” Tony reminds investors to remember their financial goals and the fundamental investment principles when threats arise.
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Quarterly Letter, July 2019

Here are the highlights of what we’re seeing so far this year: The Federal Reserve last raised short-term interest rates in December 2018 and is now actively talking about cutting them. The futures market, in fact, is pricing in two to three cuts this year. The Fed has also stated they will end the shrinking of their balance sheet in October. They’ve undergone quite a shift in thinking over the last six months! Our concern last year was that the Fed, through the reduction of the balance sheet, would reduce dollar availability and cause asset markets to fall. The Fed’s actions this year have alleviated that concern.
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Archive of May 30, 2019 Webcast

During our webcast, Ron and Jeff Muhlenkamp use several economic charts to discuss the trends they see, data that concerns them, and indicators that keep them optimistic. For example: Delinquencies in auto loans continue to tick up. Credit card debt is now a concern and negative nominal yields on bonds continue in some countries (a historical aberration). Small business optimism and consumer confidence remain high. Watch our webcast to see what else they have to say.
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Some Things I Would Have Liked To Have Known Sooner

Here is a collection of items published by Ronald H. Muhlenkamp, including: • “Reading List For Life And Investment Fundamentals 101” • “Basic Financial Maxims I Want My Kids to Know” • “Muhlenkamp’s Musings on Economics” • “Employment Costs” • “U.S. Personal Consumption Expenditures” • “Reflecting over 40 Years—Lessons Learned and Changes Observed”
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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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