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@theMarket: Stocks Take a Breather
By Bill Schmick,
06:23PM / Friday, November 09, 2018
Stocks are in the process of consolidating after the big gains over the last week or so. So far, the October sell-off has led to a recovery of about half of what was lost. In the two months ahead, we should see even further gains.   No matter how much we would like it to, the stock market rarely goes straight up. It is one reason why I constantly advise clients not to check their portfolios on a daily, weekly, or even monthly basis. And never check them in down markets. Why put yourself through that emotional turmoil — especially when you have no intention of using the money anytime soon.   As we now know, the Democrats regained the House this week. As I,

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The Independent Investor: Mid-Term Results Take Investor Focus Off Washington
By Bill Schmick,
04:33PM / Thursday, November 08, 2018
True to form, the opposition party regained control of the House, while the ruling party, in this case the GOP, retained control of the Senate. If history is any guide, this means that little in the way of legislation will be coming out of Congress for the next two years.   In the past, investors and the stock market alike did better than you might expect under this kind of political paralysis. That's because financial markets abhor the unknown. Given the unpredictability of politics and legislation, investors are far more content with inaction than action, unless of course, those actions are favorable to the markets or the economy.   Take for example, the

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The Independent Investor: Time to Check Your Risk Tolerance
By Bill Schmick,
06:47PM / Thursday, November 01, 2018
It is a good time to take a reality check on how aggressively you are invested. The 6.9 percent decline in the S&P 500 Index over October was gut-wrenching. But entirely within the realm of probability given the historical data. Here are some questions to ask.   Did you find yourself checking your investment portfolios every day? How about every hour? Did you have trouble focusing on other, possibly more important, things like your job, or your family and friends? Was it more difficult to sleep at night, or did you lay awake worrying about the markets?   How much time did you spend checking the averages and listening to the talking heads on television or in

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@theMarket: October Lives Up to Its Name
By Bill Schmick,
03:42PM / Saturday, October 27, 2018
It happened like clockwork. Earlier in the week, all three main U.S. averages re-tested their lows and then proceeded to bounce back, only to give it all back. That's what happens during corrections, but it is not over yet.  After all, it is October.   Readers will recall that last week I wrote that nine out of 10 times markets will re-test their recent lows. Naturally, this is more of an art than a science, so prices can bottom somewhat above or below those lows. In this case, the Dow hit its lowest level in four months. The S&P 500 Index slipped below its recent lows while NASDAQ got hit the worst, wracking up a total 10percent decline from its

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The Independent Investor: Textbooks Worth Their Weight in Gold
By Bill Schmick,
11:41AM / Friday, October 26, 2018
Forget the stock market, internet, and whatever you might think is worth investing in. The good old college textbook beats them all.    That boring first-semester hardcover and similar books have risen over 1,000 percent in price since 1977. Textbooks are a big business. Estimates for the total value of the textbook industry range from $7 billion to $9 billion. And just a handful of companies sell them. The five largest publishers are: Pearson Education, McGraw-Hill Education, Scholastic, Cengage Learning and Houghton Mifflin Harcourt. They have been around a long time, carry deep pockets and usually acquire any startups or smaller competitors in quick order. Some

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