Commentary

Muhlenkamp & Company Quarterly Letter – April 2024

Jeff and Ron Muhlenkamp share that although it was a quiet first quarter in economic news, the markets were not so quiet. Jeff and Ron are still watching for signs of a recession due to the inverted yield curve but also think that there is a possibility of an inflationary boom. They feel they are prepared for either scenario and give their reasons why.

Commentary

Letter to My Daughters: On How to Get Started

I met with seniors from Duquesne University recently, all of them about your age. They are Finance Majors graduating in the spring and were looking for insights into investing, career advice and strategies for building successful careers.

Commentary

Muhlenkamp & Company Quarterly Letter – January 2024

Jeff and Ron Muhlenkamp provide a recap of 2023 and look at the state of the economy at the start of 2024. They also explain their reason behind why they have significant portfolio holdings in certain industries.

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.