The Muhlenkamp Library
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Muhlenkamp Memorandum #158
Geopolitical conflict involving Iran disrupted energy markets, driving oil and the dollar higher while stocks, bonds, and gold fell. Despite volatility, economic signals are mixed but stabilizing, especially in manufacturing. [...]
Tariffs, Trade, and What We’re Watching
Trade policy has moved to the center of the economic conversation, and with good reason. The tariff increases announced in early 2025, and the ongoing negotiations that followed, represent a [...]
Letter to My Daughters: On Patience
I want to talk to you about patience, specifically, patience as an investor. It may be the single most important quality you can develop, and it is also the one [...]