Muhlenkamp Memorandum Issue #136

In their Quarterly Letter, Jeff and Ron Muhlenkamp discuss the effects of another quarter of economic activity driven by the COVID-19 pandemic. In his article, "View from the Front Office: the Election," Tony Muhlenkamp suggests not to panic. No matter which candidate wins this November, nothing will change overnight. Take a look at your financial plan and adjust it to adapt to changing conditions.
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WORKING THE PROBLEM: The Impact of COVID-19 & Some Advice to Answer Our Clients’ Top Concerns

An archive of our webcast is available. Jeff and Tony Muhlenkamp discuss the economic disruptions caused by the COVID-19 pandemic.
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MAPPING YOUR FINANCIAL FUTURE: It’s Never Too Late to Save for College

Our webcast, led by Tony Muhlenkamp, takes a fresh look at an old topic: how do we save for college? Given the past few months, should we change the way we plan and save for our children’s education? Watch the webcast to hear our ideas on planning for your financial future.
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Ron’s Reading List

Ron’s reading list for life and investment fundamentals includes recommended books on the topics: the way things work; why you’ll...
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Muhlenkamp Memorandum Issue #132

Ron and Jeff share what they see going on economically, financially, and politically in their Quarterly Letter. Their topics include: U.S. trade negotiations with China, Brexit and the markets, a German recession, an inverted yield curve, low inflation, and slowing industrial growth. Tony shares his ideas about money in terms of good and evil in his article, "Letter to My Daughters: On Money." Read our Memo to see if he thinks money is the root of all evil, or good for the soul?
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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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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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Quarterly Letter, October 2016

Last quarter we said “It seems like every quarter something big happens for us to talk about… .” Well, not this quarter. The last three months have been very quiet – economic growth hasn’t changed much, central bank policies haven’t changed much, bond prices haven’t changed much, commodity prices haven’t changed much, etc...
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Yield = Income = Caution!

This essay gives examples of why you should completely understand what you are buying before you buy it. Be sure...
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Let’s Get Real: Understanding Your Purchasing Power

You must understand the difference between a nominal interest rate and a real interest rate to determine your purchasing power....
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