How do you look at risk in your investing decisions? Thinking about the markets, I thought of a lecture I attended where legendary investor Howard Marks discussed how he looks at risk. His insights in this regard are always relevant and especially noteworthy in today’s market. They seem even more relevant given technology and AI’s…
The direction of long-term interest rates is a topic that touches nearly every corner of the economy and financial markets, from corporate borrowing costs to household budgets and investment valuations. Presently, we are experiencing rising rates. Here’s how that might affect your investing decisions. Increasing US Treasury Bond Yields Since March 2026, the yield on…
Many people, when they hear the word philanthropy, picture extraordinarily wealthy people with names like Buffett, Gates, or Rockefeller making astronomically large charitable gifts. However, you don’t need to be a billionaire to make a significant difference in your community with your giving. Rather, through compounding, intentional giving, and using a Donor-Advised Fund (DAF), you…
Investing for retirement can be nerve-racking, especially when the news cycle seems fixated on amplifying market turmoil. As an investor, you may be concerned when the onus is increasingly on you, the individual investor, to plan for retirement. Increased Market Uncertainty Currently, we are amid armed conflict in one of the most dangerous and economically…
With the inflation we have experienced over the past few years, investing in gold as an asset class has returned to the forefront. It has had positive annual returns in 2023, 2024, and so far in 2025. The gains have been impressive. Owning Gold: Easy or Difficult? Years ago, it was difficult for investors…
Value investing with a strong contrarian bend defines Pendragon Capital Management. That’s because we believe strongly in the value of not timing the market, having a long-term investing perspective, and being disciplined about financial decisions. From personal experience, we see this combination as the most effective approach for building wealth over time. It’s the best…
Concerns that a trade war will lead to a recession have spread around the globe. The possibility of retaliatory tariffs is on investors’ minds, with China responding with counter-tariffs, increasing the odds of a worst-case trade war scenario. Markets in Asia and Europe have declined alongside U.S. stocks. There has been a “flight to safety”…
Business cycles play a significant role in financial planning. Why? Because they are inevitable and have distinct phases, as I discuss below. Understandably, I have received many calls from clients concerned with the recent stock market decline. The post-election rally has “round-tripped” and then some. The uncertainties of the times have given many investors a…
Investor concerns over the recent underperformance of technology stocks have raised questions about concentration risk and the broader market. Strong returns among artificial intelligence stocks have supported portfolios over the past few years. At the same time, they have raised questions about the sustainability of the market rally. Concerns for tech stocks primarily include concentration…
Earnings play an important role in guiding investors, particularly during difficult markets. With markets nervous about stubborn inflation, a gradually slowing labor market, and the timing of the first Fed rate cut, investors are more focused on this corporate earnings season than usual. This is because while the economy has avoided a “hard landing” corporate…
