The stock market may seem chaotic and unpredictable — but there is some order, if you know where to look. Some things, history tells us, tend to repeat. One such instance happens every time the S&P 500 Index… Read More

If you think “widow and orphan” utility stocks are boring, then you’ve never heard of this one. It’s an electric utility that has increased its dividend each year for the past 20 years. Not only does it offer its shareholders an… Read More

I grew up in a diner. My parents have owned and operated Edelweiss restaurant in Auburn, Calif., for the better part of 30 years. I’m not a restaurant analyst, but I know first-hand how tough the business can be. Studies show one in four restaurants close in… Read More

As the world trained its eyes on Copenhagen last Friday to learn the location of the 2016 Olympic Games, I sat in a bar in Washington, D.C., with an old friend. We were waiting for the results of a different contest. The race we were interested in has far larger… Read More

The Chinese Civil War ended Oct. 1, 1949. The (winning) communists controlled Mainland China and the (losing) Chinese Nationalist Party was relegated to Taiwan. The relations between the two governments since have generally been hostile. Each side hated the other and claimed they were the legitimate Chinese government. Now, after… Read More

I bought a pair of noise-canceling headphones from an airport vending machine. When I put them on and turned the switch, the dim from the airport disappeared. After my flight took off, I put the headphones back on. The hum of the jet engines evaporated. Every investor ought to own… Read More

Twenty million dollars’ worth of poker chips sat on the table.  I watched as bets went into the pot — $100,000 at a time. A single hand could cost upward of a $1 million.     The game was winner-take-all, and it had already gone on… Read More

We all watched in anguish as the S&P 500 dropped -40% from October 2008 to March 2009. Even the most diversified portfolios weren’t immune. For all the talk about foreign economies being “decoupled” from the U.S. economy, foreign stocks tumbled in lock step… Read More

The market rebound, which began in March, has so far increased the value of the S&P 500 by about +55%. Economic indicators are still weak, but the market tends to lead the recovery by several months. Despite the worry, cyclical stocks — those affected by the economic cycle — are… Read More

If anyone ever tells you that you must choose between dividends and capital gains, it’s now safe to laugh. A full 135 companies have increased their dividends AND decreased their shares outstanding through buybacks in each of the past five years. Stock buybacks… Read More