A Bearish Churn…

The end of summer hit markets with a Covid wallop known as the Delta Variant. Stocks were broadly unchanged since June, having erased all gains in a September swoon. Many of the new viral cases occurred in those populations which had not received the “Jab”, especially students returning to college and young people. Those crazy […]

A Raging Bull

Prospects for the economy continue to improve markedly. In most of the US the pandemic has abated to a diminished threat, with case and death counts becoming less of a news event. Stocks have continued to rise on the re-opening of the economy as people, long tired of “staying safe” at home, start to take […]

Count your Blessings

Markets continued their upward trajectory in the first quarter, after a remarkable run in a chaotic though profitable 2020. The vaccination tsunami has hit the beach, and stocks continue to soar to new highs. Everyone in our office has received their jab in the arm. It is a wonderful thing, and can only get better, […]

Zombieconomy 2025

Let us be grateful 2020 is finally behind us. No one saw the pandemic coming. We can at least enter 2021 with renewed hope for a better year. Two vaccines are currently being distributed, with a third due in early January. My 92 year-old father has had his first shot. Prospects for a better 2021 […]

The Macro Messaging of the Markets

I reject the term “unprecedented times”. It seems that we are too often told that we are living in unprecedented times, that we should accept a new paradigm for the era, pretend that plague has never been visited upon humanity, and this is the most vicious election the US has ever been through. I say […]

A Bubble and a Hard Place

Only a few months ago, markets were crawling off the bottom of the pandemic-driven collapse. What a difference combined fiscal and monetary efforts have delivered so far. Growth Equity Markets have matched and exceeded their pre-coronavirus highs. This has been good news for investors. Yet a word of caution is appropriate. Though continuing to exceed […]

MoVing Targets…

It goes without saying that the past three months have been Crazy Train as we “safe-distance” through the pandemic. Add social protests and unrest and election year politics to negative oil prices and jaw dropping unemployment numbers and this year continues to be one for the record books. Through all of this, much of the […]

World Under Siege

At the end of 2019 we celebrated an outstanding year for investors but warned we may be getting ahead of ourselves, and to be wary of potholes in the road. It was as recently as February 19 that markets hit new all-time highs, even as the virus was spreading across the globe. This rally then […]

Celebrate Yesterday, Stay Vigilant…

After a brief hiccup at the start of the last quarter, markets roared into the new year in a relentless drive to all-time highs, again. The engine of the US economy is humming along providing ample job opportunities for middle income workers, accompanied by low interest rates and accommodating central bank policies around the globe. […]

Bewitched Markets

October has arrived and the darker spirits of the market have emerged beginning with an immediate October sell-off of equities. Boo! It is the Season of the Witch, and equities are being spooked. The first three days of the quarter eliminated the third quarter’s gains as an increasing flow of struggling economic indicators has appeared. […]