Better, Better…
Things are better. The economy is better around the world than it was in March or April. According to the IHS Markit Flash G4 PMI output index for June, the…
Investment Commentary
Finding A New Way…
Globalization is a corporate strategy born centuries ago. It has had its “ups and downs” over time, falling in and out of favor with strategists. We believe we are starting…
Monetary Mitigation…
In the current environment of social distancing to “bend the curve” of the COVID-19 infection rate, the Fed has “stepped up” to do its job of protecting the U.S. economy…
Pandemic Blues…
They’ll wait it out. Photographer: Brian Bahr/Getty Images North America It has been the fastest “bear market” ever recorded taking the fewest number of days (less than 30) for world…
Shoot First, Then Ask Questions…
More than $4 Trillion (that’s with a T) of market value was stripped from US equities in the space of a week. Such a cascade of selling over such a…
The Start of 2020…
NO RECESSION IS FORECAST FOR THE U.S. ECONOMY Despite the fact that the U.S. has not seen a shrinking economy in over 10 years, setting a new record for expansion,…
What A Year and What A Difference A Year Makes…
For those who are faint of heart, it is probably best not to search one’s memory regarding market conditions last November. It was an “ugly” time with markets around the…
Watchful…
Above is a useful tool to quickly determine if the U.S. is in or is about to enter a recession, which might herald a sharp downturn (i.e. >20%) in equity…
Abuse The Dollar At Our Own Risk…
It was Robert Rubin, Treasury Secretary under Bill Clinton, who opined that a strong dollar was in the best interests of the United States of America. It was that philosophy…
Buffetted by Crosscurrents…
It is easy to be distracted. It is simple to lose sight of the “prize”. The future is never clear and the present is often confusing. Doubts swirl, “second guessing”…