The GDP outlook is down markedly. I was insufficiently pessimistic (relative to WSJ survey respondents) regarding the GDP outlook. Figure 1: GDP (bold black), WSJ January survey mean (blue), WSJ April survey mean (tan), GDPNow of 4/9 (sky blue square), Chinn…
From NABE two days ago, responses pre- and post-“Liberation Day”: From the NABE statement: The initial April 2025 NABE Outlook presents the consensus macroeconomic forecast of a panel of 41 professional forecasters. The initial survey, covering the outlook for 2025 and…
Fast fashion retailers rely heavily on shipping by air. The president’s tariffs could change that.Shein packages ready to be shipped from a factory in Guangzhou, China, in February.Gilles Sabrié for The New York TimesFast-fashion giants like Shein and Temu have been…
Modern banking has changed a lot in recent years. Gone are the days when you had to visit a branch, fill out countless forms, and wait in long lines just to open a savings account. With digitization, people can now open…
Quote of the Day "Risk is about understanding the range of outcomes and their potential probabilities, and then judging what the appropriate stake is given our view on this." (Joe Wiggins) Chart of the Day Historically very high VIX readings have…
The Internal Revenue Service issued a memo last month that said victims of certain impersonation and investment schemes might be eligible for a tax break.Victims of sophisticated online scams are often dealt a double whammy. Not only is their money forever…
I discussed much of this in my Q2 2025 RWM client quarterly call on April 5. I am sharing this now because so many questions have poured in. Best Worst Cases Last Monday, I discussed the consequences of chaos. While…
NY Fed future financial situation “better off” revised up, but continues decline. Figure 1: U.Michigan expectations index (blue), and NY “better off” aggregate (tan), both demeaned and standardized (2013M06-2025M02). Source: U.Michigan, NY Fed, and author’s calculations.
Meta’s antitrust trial, in which the government contends the company killed competition by buying young rivals, hinges on unknowable alternate versions of Silicon Valley history.In 2012, when Facebook’s chief executive, Mark Zuckerberg, cut a $1 billion check to buy the photo-sharing…
Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at the tradeoffs of trend following. Quote of the Day "Expected value only matters if path dependency doesn’t destroy you…
The president has watered down some of his trade demands, but that’s created confusion in the markets and has forced his administration to adapt its messaging.Treasury Secretary Scott Bessent has been increasingly called on to soothe tariff worries.Tom Brenner for The…
Investment commentary authors often know the markets well, but lack writing and editing expertise. After all, they’re earning big bucks to manage money, not to write.I’ve learned some lessons about how to edit investment commentary that I share below with you.…
British officials also announced more financing for exporters as the country sought to protect firms hurt by tariffs.The British government ramped up actions to help protect businesses and households from some of the economic tumult created by President Trump’s decision to…
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At the Department of Health and Human Services, Trump administration officials want to reverse a regulation that has required nursing homes to have more medical staff on duty.At the Mine Safety and Health Administration, powerful lobbying groups have asked the administration…
[EDITOR'S NOTE: Our annual opportunity to ask for your help in molding The White Coat Investor’s future is here! The 2025 version of the annual survey is officially open, and we’d love for you to take a few minutes and let…
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Dear Donors,
We hope this message finds you in good health and high spirits. Today, we reach out to you with a heartfelt appeal for your support in sustaining our health practice. With over 30 years of dedicated experience, our practitioner—a seasoned researcher, teacher, and healer—has committed his life to serving individuals who have experienced the unimaginable.
His journey began by offering care to people returning from conflict zones, wars, natural and man-made disasters, and those who have been victims of torture. Through his expertise, he has been able to alleviate the physical and emotional burdens that these individuals carry.
For the past 30 years, our practitioner has specialized in the treatment of psychotrauma and Post-Traumatic Stress Disorder (PTSD), understanding the profound impact they have on health and life, not only for the individuals directly affected but also for their loved ones. Additionally, he has dedicated himself to providing long-term support for those battling physical and mental injuries, cancerous pathologies, genetic diseases, and other challenging conditions.
Through his unwavering commitment, he has helped and cared for several thousand people who were in desperate need, enabling them to not only survive but thrive. For those who lacked financial means, he has always offered care free of charge, allowing them to receive the support they needed, regardless of their circumstances. Those who could afford it were encouraged to contribute what they could, fostering a sense of community and shared responsibility.
The impact of our practitioner’s work cannot be overstated. Lives have been saved, hope has been restored, and the journey towards healing has been made possible for countless individuals. However, we find ourselves at a critical juncture where we urgently need your help and support to ensure the continuity of our services.
By making a donation to our health practice, you will directly contribute to the well-being and transformation of lives. Your generosity will empower us to continue providing essential care, support, and treatment to those who are most vulnerable. Your contribution will help us acquire the necessary resources, develop innovative therapies, and expand our reach to make a lasting impact on the lives of individuals and communities in need.
Join us in making a difference today. Your support will not only sustain our practice but also enable us to extend our services to those who might otherwise go without the care they desperately require. Together, we can create a brighter, healthier future for all.
To make a donation, please visit our donation page. Every contribution, no matter the size, makes a significant difference in the lives of those we serve.
Thank you for considering our appeal and for your compassion in supporting our health practice. Together, we can continue to save lives and inspire hope.
With deepest gratitude,
Yan A. Reichlen de Meldegg
Practitioner in Neuropsychology
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