We have written a great deal about the debate between active and passive money management, and the topic is now getting attention from the broader financial media. A recent front-page article in the Wall Street Journal (October 18, 2004 “As Two Economists Debate the Markets, The Tide Shifts” ) provided a summary of the debate, …
The Producer Price Index rose by 1.7 percent in October, the largest monthly increase since 1990. It remains to be seen whether this signals a trend that will spiral. But investors who follow our approach can rest assured. Our parent, the American Institute for Economic Research (AIER), has long warned of the inherent decline of …
In September 1997 our parent, the American Institute for Economic Research (AIER), in its Research Reports, assessed the state of the world’s fiat currencies at the time and observed that the dollar then stood as “The World’s Tallest Dwarf.” The dollar’s claim to that title is now in question. Following its inception in 1999 the …
IGINDEX2004.pdf
IG2004Index.pdf
A new way to pay for health care that was introduced by the Medicare Reform Act in December combines an insurance component with an intriguing savings kicker. The new plans, called health savings accounts (HSAs) are designed to help individuals save for qualified medical and retiree health expenses on a tax-favored basis. Contributions to these …
Jan. 2004 – Health Savings Accounts: Opportunities for Investors Read More »
The following article was condensed from “Some Lessons from 250,000 Years of Stock Returns” by Truman A. Clark of Dimensional Fund Advisors. “My stocks are down 30 percent. What are the chances they will come back soon?” “Man, I wish I had been out of stocks for the past three years. How often are stocks …
Feb. 2004 – Lessons from 250,000 Years of Stock Returns Read More »
The highly publicized case against Martha Stewart has focused attention on the notion of insider trading. These events, as well as the trend described by the Wall Street journal article reprinted herein, serve as a reminder that individual investors are not well served by stock picking. The capital markets assimilate information with stunning efficiency. This …
On April 8 the 30 component companies of the venerable Dow Jones Industrial Average (DJIA) were changed for the first time since 1999. Eastman Kodak, AT&T, and International Paper were dropped while Pfizer, Verizon and American International Group (AIG) were added. Although two of the firms that were replaced were in our high-yield Dow model, …
The month of April ushered in news signaling very solid economic growth, and the bond market responded by sending interest rates to their highest level in a year, as shown in the first chart below. Conservative investors who have structured their portfolios in accordance with our recommendations might be anxious about the decline in their …
American Investment Services, Inc. (AIS) is an SEC Registered Investment Adviser* founded in 1978.
AIS is a wholly-owned subsidiary of:
*Registration with the U.S. Securities and Exchange Commission does not imply a certain level of skill or training.
The information provided does not constitute investment or tax advice and it should not be relied on as such. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. It should not be considered a solicitation to buy or an offer to sell a security. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and AIS shall have no liability for decisions based on such information.
Any mention of commercial products or reference to commercial organizations is for information only; it does not imply recommendation or endorsement by AIS nor does it imply that the products mentioned are necessarily the best available for the purpose.