Insights

Summary Stock markets worldwide sold off during the third quarter.  See Chart 1.  July began with a modest rally, but it was confined to...

The Federal Reserve did not raise interest rates last week.  Here is how that decision is playing out: Interest rate sensitive securities...

As of the market close yesterday, 8/25/15, the S&P 500 has declined -10.9% since the drawdown began last Tuesday, 8/18/15. (See Chart 1) ...

Commodity prices were weak when July began and they’ve plunged sharply over the past two weeks (before catching a small bounce over the...

The May Employment report was surprisingly strong. Labor force participation rose by 400,000 and average hourly earnings climbed to 2.3%...

Recently, both the S&P 500 and Dow Industrial Averages again closed at all-time highs and are up 4.3% and 3.3% respectively<1>. The...

Market Summary The first quarter of 2015 is just over and it has been fairly disappointing for most investors.  The S&P 500 was up 0.45%...

Last Friday’s U.S. Employment report was strong enough to send interest rates soaring.  The 10-year note, which opened the year yielding...

Summary It is hard to overstate the impact that weakness in the global economy had last year.  Because the United States was the only...

I am not concerned about the stock market's rough start to the year because January 2014 also got off to a bad start and yet finished the...

It seems like each update starts with how much the market has changed direction from the previous update.  As this is written, the stock...

Market  Update What a difference a month makes!  We had the sharpest stock market decline since the summer of 2011 (the S&P 500 was down...

Market Perspective Thoughts on Equities We seldom get through a year without at least one down quarter, but we are presently on a six...

As we wrote last month, the most prudent course of action statistically is to assume any particular decline in a bull market is a...

Market Perspective Bear markets are a “when”, not an “if”.  The goal is to go into one without being overly aggressively positioned, so...

Stocks finally broke out of their trading range after the Memorial Day holiday as investors decided that the economy was in fact growing...

Stock prices have leveled off here in 2014.  The blue chip averages have recovered from both their January correction (6%) and a smaller...

Market Leadership Rotation Last week saw one of the biggest asset allocation reversals I have ever seen. Going into last week, the...

Market Activity We got off to a bit of a bumpy start in 2014, but we seemed to have stabilized in the last week.  Emerging markets have...

Summary Investors continued to push stocks higher in the fourth quarter.  Many of the concerns they had going into the year – the...