Investment Commentary

Happy Memorial Day and many thanks to those who have served and are serving our country without hesitation and with distinction.  Barbeque party conversations today seem to have an overhang…

DAY 102… The first major political milestone of the Trump administration has been passed with an environmental march in Washington and a speech for the faithful in Harrisburg. We are…

FOCUS AND EMBRACE THE CONFUSION We would encourage readers not to stare at the “shiny” object. We would entreat people not to listen to the bombast from Washington or Mar-a-Lago.…

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 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…

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…

WE DIDN’T SEE THAT ONE COMIN’ It was a complete “sweep” – the Presidency, the Senate and the House of Representatives.  The Republicans won it all as well as more…

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…

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…

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…