For the past 15 years or so, I’ve had a very important hold on my calendar on Wednesdays at 5 pm. If I’m in Chicago, I make it there, with surprisingly few exceptions. My appointment is at the basketball court in our local neighborhood Jewish Community Center. There, 8-10 middle-aged men gather to stretch, play, sweat, hydrate, rinse and repeat until our …

The Park Piedmont team will be off this coming Monday, June 19, in commemoration of Juneteenth National Independence Day. Juneteenth is a federal and public U.S. holiday on which federal banks are closed. Stock and bond markets will be closed as well. We will return on Tuesday, June 20. Juneteenth is at once a long-running holiday and one whose name and …

We wanted to share an update on the ongoing debt ceiling negotiations. The most up-to-date reports are that President Biden’s White House and the Republican House leadership appear to be moving closer toward an agreement. As reported by the New York Times this morning, the two sides look to be coalescing around “a deal that would raise the debt limit for …

The subject of the United States debt limit has been in the news, and we want to discuss both what it is and what it might mean for you as investors. What is the debt limit? The United States has for many years maintained a debt limit, which provides a ceiling for how much money the federal government can borrow to …

One of the values that Vic instilled in our PPA team is the importance of reading the news every day. This has become an important part of our respective daily routines – waking up, making a cup of coffee, and browsing a variety of news resources before beginning our workday. Not too long ago, in the middle of this routine …

When was the last time you taught someone you love how to do something hard? This question came up during a recent conversation I (Tom) had with Leslie Kahlenberg, one of our PPA team members. Leslie and her husband live in the Los Angeles area with their two teenaged sons. Their younger son, recently turned 15, is driving now. And Leslie …

If you were making a mixtape or playlist of your favorite songs about money, what would make the cut? Visiting with a few of our clients this week offered a nice opportunity to turn on the radio. And with the radio on, we could revisit that ongoing question. On one of our recent Park Piedmont weekly team Zooms, we spent …

To help relieve chronic hip pain, I had an epidural yesterday. If you aren’t familiar, an epidural is an injection of medication – often and in my case, a steroid – into the area around your spinal nerves to relieve pain in some part of your body. I’d had one before – it wasn’t a life highlight. I recalled some pain …

We are excited and gratified to introduce our first book Thinking About Investing: Two Decades of Reflective Commentary on Markets and Money. We would be delighted to send you a copy (or copies), either electronically or in hard copy. Our treat. Just let us know what you prefer. • • • When we first started to contemplate this project, back in the fall …

One recent, unseasonably mild late afternoon, I hopped on my bicycle toward my regular mid-week basketball game. A main nearby boulevard has a bike lane, and heading out, I felt great. A comfortable breeze. A nice, easy pace. As I pedaled, I could feel, over my left shoulder, an approaching presence. I turned to look, and what I saw was, candidly, …