Previously published on December 16, 2016 in the California Economic Forecast publication. United States housing sales have been climbing since the recession, but are still relatively low. This is particularly true once the home sales are adjusted for population. Household formation has shown some signs of life lately, especially since early 2015. New home starts… Read more

Previously published on December 16, 2016 in the California Economic Forecast publication. The United Sates economy continues to grow at less than its potential. The 12-month moving average of job creation has been falling steadily since February 2015. In seven of the last eight quarters, investment growth has been negative or near zero. Productivity declined… Read more

The Financial Analyst Journal (FAJ) is a terrific publication put out by the CFA Institute.  This group also sponsors the Chartered Financial Analyst (CFA) designation.  In a recent issue (September/October 2016), a panel of leading financial experts (Professors Andrew Lo, Robert Merton, Stephen Ross, and Jeremy Siegal) discuss the future of finance and how it… Read more