In January we wrote to clients and told them: we are going to prioritize resilience for the foreseeable future. Why? Two things: scarcity...

We feel so strongly about what we do that we wrote a manifesto  about it.   Most businesses begin when an entrepreneur identifies someone...

“Deficit spending has taken the baton from Federal Reserve’s quantitative easing, but the net result remains stimulative capital flowing...

“It’s not what you look at that matters, it’s what you see.”  – Henry David Thoreau   While researching U.S.-China relations on January...

Late 19th century and first half of the 20th century was a time of great economic development but a time of the great economic...

Are you confident things can get done the way you need them to get done without your presence? One way to think about culture: it's what...

More than 5 years of studying hard asset-related industries, businesses, and investment managers leads us to conclude that we are in the...

As for where we’re finding opportunity, I would argue non-U.S. markets today are generally mispriced. The focus has been on the U.S.,...

A common refrain at Bluestone is that the future is inherently uncertain. It reminds us not to get too wedded to our ideas about the way...

Seems like everyone in the economic and investing worlds is obsessed with the question of when the Federal Reserve is going to begin...

Once upon a time, stock prices responded (sooner or later) to the fundamental performance of the companies those stocks represent. Cash...

When you step into our world you will hear the term "capital allocation" a lot. But what does capital allocation mean, exactly? As...

Most of the financial advice / wealth management industry is intently focused on how to get more efficient. The path to being more...

One of our issues with passive investing today (i.e., using a formula-driven index to determine what to own and how much to own) is the...

A client recently asked us what we thought about indexing (as in buying an index fund or ETF as part of a securities portfolio). Our...

On a December 2023 investor call, Murray Stahl (of investment manager Horizon Kinetics), shared the following information: The Van Eck...

Charts are germane to finance/economics/investing. Put them together in a certain way and you can tell any story you want. Here’s one...

One of the finance nerd cool things about financial markets is they tell you how investors are collectively handicapping the future. What...

As you're setting goals for your business and people for 2024 it will be tempting to "kitchen sink" the exercise, i.e., throw everything...

Go to Morningstar's website and you'll notice the "U.S. Barometer" in the top-middle of the page. The barometer shows nine boxes, with...