Michael K. Farr is president and majority owner of Farr, Miller & Washington LLC. He is chairman of the investment committee and is responsible for overseeing the day-to-day activities of the firm. Prior to starting FM&W, he was a principal with Alex, Brown & Sons.
Farr is a paid contributor for CNBC television and has appeared on "The Today Show," "Good Morning America," "NBC's Nightly News," CNN, Bloomberg TV, Reuters and the "Nightly Business Report." Farr is heard on Associated Press Radio, CBS Radio and National Public Radio. His market blogs can be found on CNBC.com, HuffingtonPost.com and Politico.com.
He is a member of the Economic Club of Washington, D.C., National Association for Business Economics,The World Presidents' Organization, International Atlantic Economic Society and The Washington Association of Money Managers. He is the author of "A Million Is Not Enough" and "The Arrogance Cycle." His third book, "Restoring Our American Dream: The Best Investment," was released in March 2013 and is available on Amazon.
Farr is the chairman of the Sibley Memorial Hospital Foundation. He also serves on the board of trustees at Sibley Hospital; he is the former vice chairman of the board of the Salvation Army; a former member of the Board of Trustees of Ford's Theatre; the former chairman of the board of directors of the Traveler's Aid Society, Nation's Capitol Progress Foundation; and the Paul Berry Academic Scholarship Foundation. He also is a member of the board of the Neediest Kids.
He graduated from the University of the South in Sewanee, Tenn. He is married and has two children.
Investors everywhere were stashing whatever money they had into anything that might provide safety. Reflecting on those terrifying days of yore, you might understand why so much buying pressure amid market panic may have driven yields so low, but what about now?
Given that consumer debt levels have barely budged from record highs and that many boomers had been depending on home price appreciation for retirement, we believe the recent housing price declines will cause somewhat of a permanent shift in the saving and spending patterns of middle Americans.
Two global Eco disasters are evolving and being handled similarly: they continue to leak, and repair attempts have been ineffective. Residents, citizens, markets, and investors are losing confidence in ever seeing the promised rose gardens of repair and resolution.
Wall Street’s truths are hard won, hard learned, and too often forgotten. The balmy breezes of strong earnings and improving economic data continue to waft and are embraced by investors who are enjoying this wonderful respite after last year’s unpleasantness.
The US Dollar Index, which averages the exchange rates between the US dollar and six major world currencies, has fallen over 10 percent since the high on March 5, 2009.