Insights

Follow-ups and New Thoughts: My first investment thought today is that TIPs just became more interesting. TIPs started to fade as...

Follow-ups and New Thoughts: Bill Hinch is a 35-year investment veteran who now runs the First Eagle Small Cap Opportunity Fund after a...

Summary The stock market shrugged off several attempts at a broad sell-off last quarter to eventually end up about 11% higher.  Both...

Follow-ups and New Thoughts: 1) November Employment Report The number of jobs created in November (210,000) may have been a...

Summary While it is technically true that the S&P 500 stock index added 0.58% in the third quarter, it really didn’t feel that way. ...

Follow-ups and New Thoughts: So little happened this summer that every time I sat down to write about the concern of the moment, it...

Summary Stocks maintained their strong advance in 2021 by adding another 8.55% last quarter.  Technology, Energy, and Real Estate led...

Follow-ups and New Thoughts: 1) On July 7th the 10-year Treasury traded at less than 1.30% for a short time before closing near 1.32%....

Follow-ups and New Thoughts: 1) Everything revolves around interest rates. On June 1st the 10-year treasury rose from 1.58% to 1.61%, and...

Follow-ups and New Thoughts: 1) The decline in the 10-year bond yield from 1.74% on March 31st to as low as 1.53% on April 15th has done...

Summary The stock market’s recovery continued in the first quarter of 2021 as all major categories of stocks made new highs.  For the...

Follow-ups and New Thoughts: 1) Emerging Markets are still exciting for the long run, but surging interest rates are not helpful for this...

Emerging Market Asset Allocation It would be unthinkable to put together an investment portfolio today that did not include Apple,...

Summary The stock market’s recovery from the COVID-influenced market sell-off in March accelerated last quarter as multiple...

Global stock markets, almost every single one, have been hitting on all cylinders lately.  In fact, some of the best recent performance...

A “Blue Wave” trade developed over the past two weeks in which investors bought stocks that would theoretically benefit from a potential...

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...

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...

Summary Stock prices rebounded sharply last quarter as investors began to anticipate an economic recovery.  Whether the recovery...

Investors are herd creatures.  We can’t help it; 100,000 years of programming is hard to unlearn.  That said, what enabled our ancestors...