Insights

So far this has been a great year for investors.  The US stock market was up 5.6% year-to-date through February and overseas markets are...

Summary The U.S. stock market rallied to new highs last quarter.  Investors appeared to be nervous leading up to the election, but...

The first week of 2017 is in the books and this is what we learned: Foreign stocks really like it when the U.S. dollar stops rising....

Scoreboard The S&P 500 has added another 3.08% so far this month, lifting its year-to-date advance to 12.7%.  The EAFE foreign stock...

Market Perspective November was a very good month for U.S. stocks, but not much else.  Even among U.S. stocks there was a very high...

The Election We knew this election would be a binary event – a decision in which there are two possible outcomes, and the difference...

Summary The third quarter was surprisingly strong for stocks.  The S&P 500 gained 3.88% with dividends included, its best quarter since...

Friday’s Unemployment Report No surprises either way.  Very little impact on the market’s narrow belief in a December hike.  Doesn’t...

Last Friday (9/6/16), the market experienced one of the “reddest” days I have ever seen.  The advance-decline ratio on the NYSE was 152...

1) Investors have seen new highs from all of the major indices in August, but through last Friday the S&P 500 stands less than 0.5% above...

The month of July was extremely kind to investors worldwide.   This was undeserved, in our opinion, given Brexit, a surprisingly weak...

Our take on “Brexit” is that it has set in motion a re-examination among European Union nations of the benefits and drawbacks of that...

Markets and the Dollar Stocks rallied in recent weeks, until the looming “Brexit” vote in England stopped the upward momentum in its...

Yesterday the Federal Reserve suggested that it was considering raising interest rates.   It cited employment strength (the unemployment...

There are a couple of points I want to make about the way the market is trading: Ever since the stock market began its recession fear...

Summary It was a tale of two half quarters. The first six weeks saw equities sell off on fears that the Federal Reserve would continue...

Notes on The Fed The Federal Reserve decided on March 16th not to raise interest rates. This came as little surprise, as that is exactly...

Updating the January 18th post: Low volatility strategies continue to lose less. They are down roughly -1.79% so far this month, versus...

Summary In a way, 2015 was a lot like 2011.  Markets muddled through the first half of the year, then plummeted in the third quarter...

A few thoughts on the year so far: When I wrote the January 5th, 2016 Market Perspective, I wanted to make the point that stocks were not...