Compass Commentary

Wells Fargo and Merrill Lynch just settled charges for overcharging retail investors on small dollar transactions. I’ve been saying this for years: on Wall Street, getting caught just means paying a parking ticket.

The riots tearing through France, Belgium, and Milan are not about high school kids upset over school funding. They are the inevitable economic consequence of unaffordable welfare states, stagnant economies, and politicians who refuse to face reality.

Import prices just spiked 1.1% in a single month. Annualize that and you are looking at inflation running at 8% to 11% on goods crossing our borders, and that is the number they cannot easily manipulate.

Every week I see people who look wealthy on the outside but are drowning in debt on the inside. The question I keep asking is simple: what does your honor cost?

After two decades in this business, I can tell you the most expensive mistake investors make has nothing to do with the market. It has everything to do with what they’re chasing and what they’re missing while they chase it.