Over 150 years ago Charles Dickens wrote A Tale of Two Cities. Today, investors find themselves in “A Tale of Two Markets”. It is the best of times if you take your cues from the stock market, but something closer to the worst of times if you are watching bond prices.
Read Article →As corporate earnings season winds down, overall market volatility has remained low, masking some large moves in individual companies and industries such as retail (down) and technology (up).
Read Article →We may see increased volatility in individual stocks and perhaps in the market as a whole. Our advice? Mind the gap – the behavior gap.
Read Article →Interest rates are rising and stock prices too. The S&P 500 index rose nearly 1% yesterday in response to the Fed raising short term interest rates for the second time in three months.
Read Article →With U.S. equities hitting all-time highs on a daily basis, it is getting harder (but not impossible) to find good value. It is also getting easier to fall prey to emotions.
Read Article →Best wishes on Inauguration Day. We have brought some forecasts for 2017 into our newsletter this month, but keep in mind that no matter how logical the forecast seems and how confident the forecaster appears, it’s always helpful to remember just how much is out there that simply can’t be predicted.
Read Article →Sometimes, everything seems to change at once.
Read Article →Much has changed, nothing has changed. Top of mind topics continue to be: Valuations, earnings, and elections.
Read Article →Top of mind topics: Valuations, earnings, and elections. Some thoughts on these subjects are attached.
Read Article →Two factors underpinning the market have been stock buybacks and dividend growth – both of which have begun to ebb. Yet there are no good alternatives to stocks, giving rise to the latest acronym, “TINA” (There Is No Alternative).
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