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Notes and Thoughts for December 10th, 2020

Global stock markets, almost every single one, have been hitting on all cylinders lately.  In fact, some of the best recent performance has been in areas of the market – cyclicals like energy and financial services – that have not…

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Notes and Thoughts for November 6th, 2020

A “Blue Wave” trade developed over the past two weeks in which investors bought stocks that would theoretically benefit from a potential $5-6 trillion dollar infrastructure spending and stimulus bill (which Democrats have been pushing for).  This put a strong…

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Quarterly Market Perspective for 3Q20

Summary  The U.S. stock market gained 8.9%[1] last quarter as investors gained confidence that the worst of the COVID 19 crisis was behind us.  Ten of the eleven industry sectors gained ground, four of them by more than 10%.  The…

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Trademark Market Perspective for 8/31/20

The Fed Not much to say about the U.S. stock market overall.  I’ve been reading a lot of analogies lately, so here is mine:  Imagine northern California, circa 1849.  Gold has been discovered, and a lot of people are getting…

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Trademark Market Perspective for 2Q20

Summary Stock prices rebounded sharply last quarter as investors began to anticipate an economic recovery.  Whether the recovery actually comes to pass as soon as the market hopes is another thing entirely, but it is important to remember that the…

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