Hold On to Your Hats!

Hold On to Your Hats!

Recently, stocks have delivered a wild ride. During Thanksgiving week, U.S. stock markets took investor uncertainty on the chin, suffering a 3.8 percent drop, which was the worst performance in eight months. Then, last week, stocks reversed course. The Standard &...
The World Remains Full of Opportunities and Challenges

The World Remains Full of Opportunities and Challenges

Although we’ve seen global markets moving in tandem in recent years, Sara Potter of FactSet pointed out, “…we’re starting to see the end of the synchronized global growth that has prevailed over the last two years. While the U.S. economy remains strong, growth in...
What a Rollercoaster of a Quarter!

What a Rollercoaster of a Quarter!

When it comes to the American Association of Individual Investors (AAII) Sentiment Survey, respondents tend to be more bullish than bearish about U.S. stock markets. The survey’s historical averages are: 5 percent bullish 0 percent neutral 5 percent bearish As the...
The Market Cycle and Investing

The Market Cycle and Investing

From January 30th, 2017 client presentation. It looks like we are in the 6th or 7th innings of an economic expansion in the USA. There are places in developed world and emerging markets that are still behind us and where there is still opportunity for equity upside....
Wage Increases are Good and Bad

Wage Increases are Good and Bad

From January 30th, 2017 client presentation. Wages HAVE BEEN increasing on an inflation adjusted basis for some time. A tight labor market should put even more pressure on employers to increase wages faster. When there is no one to hire, if you need an employee, you...
Tax Reform is a Fiscal Stimulus

Tax Reform is a Fiscal Stimulus

From January 30th, 2017 client presentation. Tax reform is a $1.5 Trillion stimulus. But it is selective. And, it will absolutely lead to higher deficits, a higher national debt, and probably a whole lot of political wrangling. Previously: Valuations high, but not as...