How To Save The Newspaper Industry

Somewhere in the basement at my parent’s house, there is a collection of newspapers that marked off important historical events from our family’s worldview. Copies of the St. Louis Post-Dispatch on the day that the US won the “Miracle on Ice” hockey game, anytime the St. Louis Cardinals won the World Series, Princess Diana’s death, 9/11, the commencement of war in Iraq, the death of Stan Musial—stuff like that. When I was in town this summer, I remember looking at the papers from a decade ago and thinking one thing—newspapers are total shells of their selves, even counting the not-too-distant past.

That is because, in an attempt to stem the losses from the steep drops in print circulations, most newspapers became more “bloggy” by syndicating a lot of content from Reuters and The Associated Press, while laying off many unique editorial personalities and cutting the size of the newspaper. … Read the rest of this article!

Stocks Get Cheap on Christmas Eve

The typical United States stock lost approximately 20% of its value in December 2018. Technically, we have to go back to the Great Depression to find another example of a December in which stock prices have declined by such a substantial amount, but on an annual basis, we are looking at a 10% or so decline, which is something that U.S. Stocks have done about 4-5 times out of every 20 years since the Civil War.

I wasn’t planning on writing about investments during the heart of the Christmas season, but I am reminded of a client I once represented at trial who had to call and make arrangements for neighbors to take care of the farm during the week-long trial, saying that “the cows don’t know it’s a trial week.” So, too, seems to be the case with the sequence of this year’s returns, with no real December event … Read the rest of this article!