Muhlenkamp Memorandum Issue #127

Ron and Jeff state in their quarterly letter that the U.S. economy is doing well, but there are a number of things that could start to cause problems. In his article, "Relevant Elements for Investment Strategy," Tony looks into a few factors of investing such as time horizon, risk management, and price. Details on our upcoming webcast are included.
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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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Muhlenkamp Marathon Financial Training Workbook

There are many similarities between training for a marathon and creating a legacy of financial freedom—both take desire, time, effort, and discipline. Our 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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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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Effects of Currency Manipulation

This article explains the ripple effect that could occur when one country devalues its currency. It also examines who “wins” and...
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What Is Risk: Part II

“What is Risk: Part I“ was written in October 1989 and discuss two categories of risk:  the risk of volatility and...
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What is Risk

This essay discusses risk in two categories: the risk of volatility and the risk of losing money. It also discusses long-term...
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Defusing the Inflation Time Bomb

The intent of “The Inflation Time Bomb” was to point out that long-term investment planning that focuses only on dollars...
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Why The Market Went Down

This essay was written in 1979 for Ron’s peers in the investment industry. Price-to-earnings (P/E) ratios on stocks had declined...
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