About Douglas Tengdin, CFA

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

Cooking the Books?

By |2018-11-07T06:18:32+00:00November 7th, 2018|Global Market Update|

What good is financial reporting? Photo: Chantal Pare. Source: Flikr. CC-BY-2.0. That may be a funny question from a Chartered Financial Analyst, but financial statements often distort, rather than reveal, the nature of a company. Beyond outright fraud, where managers just make things up, there are lots of examples of accounting practices that are misleading, like marking everything to market. During the financial crisis, when companies got into trouble their debt was downgraded. Ironically, this created an earnings boost, because their debt suddenly got [...]

Going the Distance

By |2018-11-06T06:01:38+00:00November 6th, 2018|Global Market Update|

Have you ever watched a marathon? Start of New York City Marathon. Photo: Eric Martin. Source: Wikimedia.. I remember the first time I saw the New York City Marathon. Runners start on Staten Island and pour across the Verrazano Narrows Bridge, through the other four Boroughs of New York City, and finish in Central Park. It’s a fast course. The top time is sometimes a world record, and there have been some dramatic final moments. In 2005, the winner out-sprinted the second place finisher [...]

Watching Waves

By |2018-11-04T22:48:26+00:00November 4th, 2018|Global Market Update|

Do you like seeing the surf come in? Photo: Dmitris Vetsikas. Source: Pixabay.. Most of us do. The rhythmic crash of waves on the shore is mesmerizing: whoosh, <pause>, whoosh, <pause>. There’s usually a little wind and a few random bird cries. But the overwhelming sound is the water advancing and retreating, over and over. There’s a good reason that ocean waves are one of the most common background sounds that people listen to when they want to relax. There’s something comforting in the [...]

Frost Warning

By |2018-11-01T07:18:21+00:00November 1st, 2018|Global Market Update|

Are we ready for winter? Photo: Jim Mauchly. Source: Mountain Graphics. Used by permission. The other day my wife and I were out walking early in the morning. We had to bundle up! There was frost in the lower areas and a hint of ice and snow. It made me think of all the little things we do in New England to prepare for winter: find scrapers and brushes for the car, make sure our snow shovels are accessible, stack cords (and cords) of [...]

In the Presence Of …

By |2018-10-31T22:54:34+00:00October 31st, 2018|Global Market Update|

Have you ever met a true genius? Jocelyn Bell-Burnell, who discovered of pulsars as a graduate student. Photo: Roger Hayworth. Source: Wikimedia I was fortunate enough to meet several when I was in high school. Our chemistry teacher organized an outing to a local college, where a Nobel laureate in Physics and three other great minds – one was the laureate’s PhD advisor – were giving a public seminar. After the Q&A session, I was able to meet one of the speakers one-on-one and [...]

Platform Souks

By |2018-10-30T07:45:36+00:00October 30th, 2018|Global Market Update|

Have you ever visited an old market? Photo: Marc Ryckaert. Source: Wikimedia. In North Africa they call them “medinas.” In Latin America they’re called “mercados.” In the middle east they’re “souks.” Whatever name they go by, it’s a colorful experience. There are lines of people filing through the popular areas. Dozens of small shops line the streets, which often have been covered. Different vendors cluster along different streets: shoes, kitchen wares, garments, goldsmiths and silversmiths tapping away on various projects. These markets have been [...]

Wrong Turn?

By |2018-10-29T07:03:13+00:00October 29th, 2018|Global Market Update|

Have you ever found yourself in a dark alley? Photo: Scott Liddell. Source: Morguefile It can be upsetting. You don’t know who (or what) is lurking in the shadows. Somebody put that graffiti on the walls, and you don’t feel they had your best interests in mind. Maybe you made a wrong turn, or your GPS didn’t work properly. All you want is to get back to where you were before. That’s the way the market feels right now. We were moving along at [...]

Keeping Going

By |2018-10-26T07:33:16+00:00October 26th, 2018|Global Market Update|

Are our investments sustainable? Photo: Usukhbayar Gankhuyag. Source: Unsplash Having a sustainable lifestyle is important. We need to eat well, get enough rest, get regular exercise, and be engaged socially in meaningful relationships. We also need to live within our means, spending less than we earn, and setting cash aside for a rainy day, for times when we may be sick or out of work. If our lives get out of balance, something eventually has to give way. “Sustainability” is an important investment concept, [...]

Car Talk

By |2018-10-25T06:25:45+00:00October 25th, 2018|Global Market Update|

Do you know how your car’s engine works? Photo: Mark Buckawicki. Source: Public Domain Project The last time I lifted the hood it was pretty intimidating. The complex tangle of tubes, lines, and differently colored entry-points was impossible to decipher. The car’s manuals weren’t much help. They didn’t even have normal page numbers; the index referred to page 4-23 or 2-6, and I couldn’t even find the size of the gas tank or fuel reserve or whatever they called it. And don’t get me [...]

Endangered Giants

By |2018-10-23T06:48:52+00:00October 23rd, 2018|Global Market Update|

Have you ever been somewhere that inspires awe? Photo: PDPhoto.org It’s an amazing feeling. People speak in hushed tones, there’s a sense of majesty, you know you’re in the presence of something amazing. The Grand Canyon, the Giant Sequoias of California, a grand cathedral, or just a clear, starry evening: they stir our spirits and cause us to reflect on our place in the world. That’s the way I often feel about markets – the complicated interweaving of supply, demand, fundamentals, and technical that [...]