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TABR News

It’s All About Supply And Demand, Not Necessarily Mean Reversion

At any given time, there can be considerable debate among financial strategists, money managers and commentators about whether stocks are cheap or expensive. Most of this is predicated on fundamental analysis, where one is looking at earnings, sales, dividends, cash flow and other fundamental metrics. As you will see below, relative to the past, going […]

By Bob Kargenian | Monthly Updates

Graduation 2017, And Beware Of Cycles

Thirty-six years ago this month, I graduated from Cal State Fullerton with a Bachelor’s Degree in Sports Administration. The morning after graduation, I woke up and went back to work in my job as Assistant Director of Public Relations for the California Angels baseball club, where I’d already been employed full time for nearly two […]

By Bob Kargenian | Monthly Updates

What Are REAL Returns, And Can You Eat Them?

In this edition of our quarterly letter, we’re going to explore the difference between nominal and real returns, along with the impact of inflation. There’s also a story on a case we just finished which added $794,000 to a client’s bottom line, which had nothing to do with our investment performance. Finally, we’ll revisit the […]

By Bob Kargenian | Quarterly Newsletter

Steve Medland Interviewed Live on SiriusXM Radio on May 12


As part of the Wharton MBA Reunion Weekend, Steve Medland was interviewed live in Philadelphia on SiriusXM Radio. Host Dan Loney conducted the interview on May 12th and covered a wide range of financial planning topics. The program was originally aired on Sirius XM Channel 111, Business Radio Powered by The Wharton School. @BizRadio111  

By Steve Medland | TABR in the News

With Investing, How LONG Is Long Term?

Back in September 2015, our monthly email update was titled “More Selling Pressure is Likely,” as the stock market was in the midst of a multi-month decline of nearly 14% which culminated in February 2016. In response to that email, one of our clients sent me a concise note, simply saying, “Bob, declines are temporary, […]

By Bob Kargenian | Monthly Updates

Nothing Goes Up Forever, But Then Again, Maybe The Horse Will Talk

Much of what we fear is never realized. This is true in life, as well as in markets. We think we know what tomorrow will bring. The reality is, we don’t know, either for better or worse. Tomorrow is but a fog. The story is told of a man who was caught stealing in a […]

By Bob Kargenian | Monthly Updates

Interest Rates May Change. The Reasons You Invest In Bonds Don’t.

I’ve been searching for an appropriate title for this quarterly edition of TABR’s newsletter for weeks. “Why Our Bond Strategies Are Different,” didn’t quite ring the bell, although it is a significant part of the message we’re trying to convey. Then, last week I came across a full-page ad in the Wall Street Journal from […]

By Bob Kargenian | Quarterly Newsletter

Supply And Demand Is More Important Than Sentiment Or Valuation, But. . .

In last month’s update just prior to Christmas, we put forth the evidence that market breadth was confirming the new highs in stock prices and that based on history, this portended higher prices in coming months.  Nothing has taken place to change that view, as it continues to be reinforced. Since December 22, the S&P […]

By Bob Kargenian | Monthly Updates

Seven RIAs tell what big project they spent money for in 2016 — and why

Steve Medland was quoted in Graham Thomas’ article, Seven RIAs tell what big project they spent money for in 2016 — and why. Steve said, “We’ve committed to ActiFi Inc.’s 13-month SAGA (strategy, accountability and goal achievement) program, and we’re three months into it. The program is based on their observation that the skill set […]

By Steve Medland | TABR in the News

What We Learn From History Is That People Don’t Learn From History

I was not the one who said that, but was astute enough to find it from all of the reading I do, and it was a quote from none other than Warren Buffett.  This is a good time to be reminded, because there is a lot of euphoria built into stock prices since the Trump […]

By Bob Kargenian | Monthly Updates