Muhlenkamp Library
Muhlenkamp Library

(724) 935-5520
Muhlenkamp & Company
5000 Stonewood Drive
Suite 300
Wexford, PA 15090

February 2025

Free Economies and Free Trade

February 25th, 2025|Categories: News, Politics|

Tariffs have become a popular subject of discussion since President Trump was elected in November 2024, and some of that discussion is somewhat absurd.  We think it is helpful to look past the headlines to some concepts we first introduced in 1992 with an article titled “How We Benefit from Free Trade.”[1] People benefit from a free economy with a large free-trade zone. A free economy is a volunteer economy in which the consumer is king, and no person (or company) can make you buy his or her product. The consumer drives free economies to benefit the consumer, and the [...]

Letter to My Daughters: On Investment Risk

February 11th, 2025|Categories: Investing, Letters to My Daughters, Risk, Saving|

Most conversations about investing start with the question, “How much risk can you handle?” which I think is a very good question.  But few people take the time to define the term “risk,” and so they wind up making assumptions that may or may not be true. There are all kinds of risks in life, and there are different risks associated with investing money, but I’m going to focus on just three of them: The chances of losing my money, How much and how often the price of a security goes up and down, The probability of losing purchasing power [...]

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