Author: Madison

“At Dodge & Cox, we encourage long-term investors to focus on long-term returns.  In our conversations with investors, however, we find that even those focused on the long term often use short-term returns to assess risk.  This can create a disconnect: if short-term returns are...

"Vision is the art of seeing what is invisible to others.”                                Jonathan Swift Investing is a global activity. About 50% of the world’s equity market value is now outside of the United States. Not only does it matter where in the world you choose to invest, but...

On a beautiful Sunday afternoon in April, Madison Wealth Management celebrated its annual Day at the Races appreciation event at the historic Oatlands Plantation near Leesburg, Virginia. Nearly 100 guests joined us at our tented rail spot to enjoy the warm weather, sunny skies and steeplechase horse racing....

The University of Cincinnati’s Lindner Investment Banking Club (LIBC) recently invited Ed Kuresman, managing principal at Madison’s Cincinnati office, to address its members. During his presentation, Ed shared insights and knowledge as to lessons learned in developing a successful and satisfying career in the investment...

Warren Buffett, Chairman, Berkshire Hathaway “For the great majority of investors, however, who can – and should – invest with a multi-decade horizon, quotational declines are unimportant.  Their focus should remain fixed on attaining significant gains in purchasing power over their investing lifetime.  For them, a...

“The importance of money flows from it being a link between the present and the future.”  John Maynard Keynes President Franklin D. Roosevelt signed the Social Security Act on August 14, 1935.  This law created a system of Federal old-age and survivor’s benefits, for workers and...

Managers of the Tweedy, Browne Global Value Fund “With declining oil prices driving oil shares lower, it is easy to lose sight of the longer term fundamental case for oil and gas.  While we have no idea where oil prices will settle in the short run,...