Investment Commentary

Merger News

MERGER NEWS We are pleased to announce that as of the close of 2016, Baldwin Management LLC completed a merger with RKM Advisors, Inc. located in West Chester, PA. Like…

Misdirection

Misdirection The goal of an illusionist is to focus audience attention on something which is not what the magician is actually doing. Crowd senses are preoccupied by intentional stimuli away…

4th Quarter 2016 Commentary

POLITICAL RISKS AND MULTIPLE CONTRACTION In early December, S&P Global, Inc., the credit agency stated that “the strength of institutions and quality of policy making can no longer be taken…

3rd Quarter 2016 Commentary

IS THE WIND CHANGING DIRECTION??? On September 22nd, the American Association of Individual Investors (AAII) released their Sentiment Survey, which the reader will find below. CHART 1 The bullish sentiment…

2nd Quarter 2016 Commentary

Negative Interest Rates Or We’ll Pay You to Borrow from Us! Imagine being a home owner in Aalborg, Denmark and receiving an interest check from your mortgage holder paying to you, the…

1st Quarter 2016 Commentary

TRANSITIONS CAN BE TOUGH…… The North American Free Trade Agreement (NAFTA) went into effect in 1994. Most economists would hail the agreement as a breakthrough, which has helped propel the…

4th Quarter 2015 Commentary

The New Year Upon Us…….. With the “rough waters” of 2015 behind us, investors must now look to 2016 and how to navigate the crosscurrents of world politics and economics…

3rd Quarter 2015 Commentary

AMERICAN CONSUMER FISCAL FITNESS AND OTHER MUSINGS….. Worries here, worries there, worries are everywhere and investor sentiment is low, very low. As we are security analysts, not psychoanalysts, it is…

2nd Quarter 2015 Commentary

RECOVERING……. For the second year in a row, the U.S. economy has had to rescue itself from a desperately hard winter whose climate put economic activity into a “deep freeze”. …
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