Market Perspective for 1.9.15
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 year 13% higher. I am more concerned that this recent selloff occurred just…
Trademark Market Perspective
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 over 9% from its September high by the 15th of October), and then recovered all…
Trademark Bulletin for 4/3/13
Yesterday, April 2nd, was a bad day from a bull’s perspective. Despite an 89 point gain on the Dow Jones Industrial Average and an 8 point gain in the S&P 500 (both to record closing highs), the broad market fared…
Notes from the 2012 CFA Conference
The conference was opened on Sunday May 6th by James Montier of Grantham, Mayo, Van Otterloo (GMO) who came into Chicago (where the economic theory of efficient markets and the capital asset pricing model was formulated) with rhetorical guns blazing. …
Follow-up on Benchmarks
In the 4Q12 Quarterly Perspective I wrote that benchmarks can be misleading. I referred to the performance of the Dow Jones Industrial Average specifically, because its methodology tends to produce results that for better or worse do not reflect the…