Learning Center
The standard definition of “deflation” is “a fall in prices.” A common assumption among investors is that deflation is bad for real economic growth and, therefore by extension, also for real dividend growth. However, that may not necessarily be the case. For example, deflation can be separated into good deflation, which typically follows a positive…
One of the most common arguments I hear against passive investing (which we can define as the use of a systematic approach to gain exposure to a factor or factors) goes like this: How can good management that is “thinking” not be superior to “nonthinking” management? I have found most investors harbor a strong opinion…
My adopted home of Charleston might have been ranked the “Best City in the World,” but the state of South Carolina is earning a less distinguished label as a harbinger of the country’s worst pension crises. And yes, that’s crises—plural—because U.S. state and local government pensions have “unfunded liabilities” estimated at more than $5 trillion and…