Baldwin Investment Management
Commentary
Baldwin Investment Management
Seek Near and Far…
We have argued for quite some time that equities around the world were and still are “the only game in town” when compared to other “mainstream” competitive investments. Bonds are extremely expensive with interest rates…
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Greener Shoots…
We just saw a report from the federal government that Q3 GDP growth was in excess of 33% on an annualized basis. That is certainly “very sporty” growth for such a large and mature economy…
Baldwin Investment Management
Fret Not Political Winds (Or Change)…
From here to election day, there will be a lot of ink spilled and breathless chatter about politics. The airwaves will be filled with “sloganeering” and vituperative attacks on serious and non-sensical issues alike. We…
Baldwin Investment Management
Two Measures…
We have commented in the past about how unloved the stock market’s rally has been since 2009. “Walls of worry” have been climbed by some investors (i.e. those who kept “the faith”) as setbacks in…
Baldwin Investment Management
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 economic output score for the…
Baldwin Investment Management
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 a new phase of international…
Baldwin Investment Management
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 with incredible speed and with…
Baldwin Investment Management
Pandemic Blues…
It has been the fastest “bear market” ever recorded taking the fewest number of days (less than 30) for world markets to decline 20%. Chart 1 The turnabout from mid-February when stock markets around the…
Baldwin Investment Management