Investment Strategy

The Difference Between CPI, GDP deflator, and PCE deflator

Economics
If you’ve ever listened to a Federal Reserve press conference, you may have heard the terms...

Understanding the Economics Behind Trade Deficits and Surpluses

Economics
Since Trump was elected to office, conversations about the trade deficit and tariffs have been top of mind for investors, corporations, consumers, and anyone affected by the trade disputes that Trump has pursued during 2018.  In this article, we aim to build a better understanding of the economics and underlying drivers that lead to a…

Understanding GDP and the National Income Accounts

Economics
Gross Domestic Product (GDP) is an important metric calculated by the Bureau of Economic Analysis (in the United States) every quarter.  GDP is a measure of the output of all goods and services produced.  Because GDP measures the output of the economy, investors, economists, and policy makers pay close attention to the GDP growth rates…

What is meant by “cash on cash” return?

Investing Insights
Investors often speak about “cash on cash” return, particularly in real estate.  In this article, we explore what “cash on cash” means and how to calculate it. In its simplest form, cash on cash refers to the cash flow an investor receives as a percentage of the cash equity that an investor has put into…

What is a cap rate in real estate investing?

Investing Insights
Cap rate or capitalization rate is the most commonly used valuation metric used by real estate investors to evaluate if a cash flow producing real estate asset is “cheap” or “expensive.”  Cap rates are the real estate equivalent of Price to Earnings or Price to Cash Flow multiples for equities. Cap rate = Net Operating…

Lessons from the 1977 Berkshire Hathaway Shareholder Letter

Buffett
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Inflation and the Role of Money – Everything You Ever Wanted to Know

Economics
The financial press is constantly abuzz with talk about inflation.  The Federal Reserve targets a 2% inflation rate, but in the years following the 2008 financial crisis, Fed economists fretted about inflation that was “too low.” 

An Explanation of Labor Force Metrics

Economics
Every month, the Bureau of Labor Statistics (BLS) puts out its jobs report, detailing how many jobs the economy added,...

How Do Government Purchases Crowd Out Investment?

Economics
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Lessons from the 1978 Berkshire Hathaway Shareholder Letter

Buffett
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Trading your portfolio during a stock market downturn

Investing Insights
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Tax Loss Harvesting – What should I know about it?

Investing Insights
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What is a 1031 Exchange?

Investing Insights
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