Who Needs a Recession When You Have Demographics?

After this Globe and Mail column came out, I had a friend call and ask whether he should re-jig his portfolio to get rid of his auto stocks. The piece is about demographics, and specifically about the implications of the fact that people spend differently over their lifetimes (spoiler: as you age you are more […]

You’re Not Old, You’re Perennial

This is my latest article for the Globe and Mail..this time on ‘Perennials’ as older workers are sometimes called. Those over 55 now comprise about 23 per cent of the U.S. workforce and 21 per cent of the Canadian one, which should not surprise anyone. Perennials now have a higher labor force participation rate than […]

Why Walmart Wants to be Hipster-Cool

Walmart buying Modcloth? ‘Say it’s not so’ went the lament from Millennials and other assorted cool people earlier this year. After all, Modcloth is a cutting-edge, online retailer that offers funky clothes for those who consider themselves the opposite of everything the world’s biggest retailer stands for. Modcloth and Walmart could never be a fit […]

Demographics is Driving M & A Activity in Japan – and Maybe Other Places Too

Demographics drives a lot of things including Mergers and Acquisitions (M & A) activity. That is a lesson we are now learning from Japan, where there are apparently too few heirs to take over large companies as their boomer-aged Chief Executives head for retirement. This piece from the Financial Times looks at what is going […]

Here’s a New One: The ‘Divorce Mortgage’

Here’s a new one to me: the ‘divorce mortgage’. No its not some crazy, invented term to describe a financing vehicle (my mind went back to ‘plain vanilla swaps’ from the days when derivatives were the buzz), but rather exactly what it sounds like: a mortgage that suits people who own a home together but […]

The Megatrends are Shifting (so Watch Your Portfolio)

You might not have noticed it, what with one economic crisis and stock market meltdown after another grabbing your attention, but the last few decades have actually been great ones for investors. Thanks to a perfect storm of factors, investment returns for the period from 1985 to 2015 came in at well above the historical […]

Are Millennials Really Powering the Stock Market?

Twenty and thirtysomethings would apparently rather buy experiences than things, and that has some very definite implications for retailers – or as least that is one theory. As this article from Bloomberg Business suggests, the stock market tells the tale of what is happening very clearly, and will continue to do so as the millennials […]