Commentary

View from the Front Office – Charitable Giving

Tony Muhlenkamp shares his notes on charitable donations and income tax deductibility.

Commentary

Muhlenkamp & Company Quarterly Letter – October 2023

Jeff and Ron Muhlenkamp give an update on the relevant economic indicators impacting investments. They also provide their thoughts on inflation, the possibility of a recession, and a list of things “broken” by the Fed due to it raising interest rates.

Commentary

Muhlenkamp & Company Quarterly Letter

Jeff and Ron Muhlenkamp provide an update on the possibility of a U.S. recession, analysis of the Fed’s fight against inflation, and a report on the stock market.

Commentary

Muhlenkamp & Company Quarterly Letter – April 2023

Discussion about inflation and the Feds efforts to fight it, the recent bank failures, and the odds of a U.S. recession.

Commentary

View from the Front Office: Everybody Knows

Tony Muhlenkamp provides examples to support the maxim by Ron Muhlenkamp that “Just because everybody knows something doesn’t make it true.”

Commentary

A Walk Down Memory Lane

In 1965 I was studying for a degree in Engineering.

Commentary

Quarterly Letter – January 2023

Jeff and Ron Muhlenkamp review what happened in 2022 regarding inflation, interest rates, the housing market, supply disruptions, energy problems, and foreign currency turbulence.

Commentary

Quarterly Letter – October 2022

The Fed’s inflation-fighting efforts have resulted in a stronger dollar relative to most other major currencies.

Commentary

Quarterly Letter – July 2022

Jeff and Ron focus on the response by the Federal Reserve to rising inflation. They also discuss some of the consequences of increasing interest rates.

Commentary

Nobody Asked Me (About Cryptocurrencies) But…

Jeff provides his views on cryptocurrencies, from a few different angles.

Commentary

Muhlenkamp Market Commentary 1st Quarter 2018

Ron and Jeff Muhlenkamp explain that recent tax cuts and deregulation should help keep the economy moving. Asset markets, on the other hand, could be affected by monetary tightening as the Federal Reserve and other central banks reduce or reverse their easy money policies.

Commentary

Quarterly Letter

In this edition of the Muhlenkamp Memorandum, Ron and Jeff discuss the Small Business Optimism Index chart which is produced by the National Federation of Independent Business (NFIB). It is based on monthly surveys of its members in order to better understand the environment in which small businesses are operating.

Commentary

Quarterly Letter

In the fourth quarter, the S&P 500 Index was up a bit over 7% and up 1.38% for the year. Our accounts, on average, were up 3.52% in the quarter and down 5.03% for the year. (Individual performance varies by account.) The gains for the broader Index in the quarter were mostly made by a small number of large capitalization tech stocks, Facebook, Amazon, Netfl ix, Google, and Microsoft among them.
Commentary

Quarterly Letter – July 2015

Ron and Jeff Muhlenkamp discuss their observations of domestic and global economic activity and the impact it has on the markets.
Commentary

Quarterly Letter – April 2015

Ron and Jeff Muhlenkamp discuss their views on the U.S. stock market, then briefly touch on some broader U.S. and global issues, then close with a summary of how it all ties together.