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 #124

This edition of the Muhlenkamp Memorandum includes the Quarterly Letter from our portfolio managers. In addition, Ron Muhlenkamp reflects over 40 years of lessons learned and changes observed. He shares his insights on human behavior, instant communications, and the free market. How does it all tie together? Read the Memorandum to find out.
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Archive of August 22, 2017 Webcast

Jeff Muhlenkamp, Portfolio Manager, summarizes the economy using his 10-point checklist. Also, to celebrate our 40th anniversary, we asked Ron Muhlenkamp, Portfolio Manager, to reflect on lessons he has learned and changes he has seen since he founded Muhlenkamp & Company in 1977. Included are Ron’s insights and observations.
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Muhlenkamp Memorandum Issue #123

In this issue, Ron & Jeff Muhlenkamp discuss what they are seeing, thinking and doing in the current investment climate. Plus, Muhlenkamp & Company, Inc. turns 40! In the Quarterly Letter, Ron and Jeff discuss international trade, economic growth, small business optimism, and disruption in the retail sector. Also included are some basics on creating a personal budget.
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Muhlenkamp Memorandum Issue #120

In this edition, Ron & Jeff discuss the Fed’s attitude on low/negative interest rates and the consequential effect on savers, including pensions and insurance companies. We look at a few questions from participants in Conference Call Highlights. Jeff’s essay, The Farming Analogy, builds on a comparison that Ron has been using for years.
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Recap: December 3, 2015 Investment Seminar

On December 3, 2015, portfolio managers Ron and Jeff Muhlenkamp provided an update on the checklist they use to monitor...
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The Signposts of Change: Economics, Rules, Markets

We have three topics for today: what’s happening with the economy, the rules (informal and formal)  that affect ongoing changes,...
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The “Fad,” Recession, and Getting Back to “Normal”

In December of 2002, the investing community was still trying to come to grips with the dramatic fluctuations in some...
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Investing and Farming: Know the Climate

The longer I manage money, the more it looks like farming. In mid-February 1992, we had 70º weather in Pittsburgh....
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The More Things Change, the More They Stay the Same

One major function of recession is to dampen consumer enthusiasm, typically after years of growth. Another function is to make...
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