As I’ve mentioned in the past, we subscribe to a few research services to help provide timely information and analysis of markets. One of these firms (FS Insight) published a video this week discussing the “wall of worry” markets have been attempting to climb (unsuccessfully) ever since late July. I thought it would be worthwhile […]

During the last quarterly reporting cycle, I wrote to clients about the “shock and awe” that characterized the first half of 2023. The “shock” came from the failures of several financial institutions in March, which was accompanied by the “awe” that was the stunning rebound in equity markets, particularly in certain sectors exposed to the […]

If you’ve been reading my articles for a while, you know I’ve written about a tetter totter (or see saw if you prefer) in the past when explaining any number of market dynamics. I’ll risk repeating myself this week as it is such a good visual. It works especially well when thinking about investor sentiment. […]

Here we go again. Earlier this week, as expected, the Federal Open Market Committee (FOMC) raised the fed funds rate by 25 basis points to a range of 5.0-5.25%. This is the tenth increase in this rate cycle (that started just over a year ago) and brings rates (from zero) to levels last seen before […]

Two major economic reports have been released in the past week for March – labor report and inflation report (as measured by the Consumer Price Index (CPI)). Let’s review the headlines of these economic news releases and explore what these reports may mean for markets moving forward. Labor Market Report Markets may have been closed […]

Interest rates have never been such a hot topic of conversation! It seems you can’t turn on the news or talk to your friends lately without someone bringing up interest rates (did you see what you can earn on cash? look at how much mortgage rates have gone up! should I just buy the 2-year […]

We all know the fairy tale of the wandering girl who stumbles into the home of three bears and tastes the bowls of porridge trying to find one that is the perfect temperature. This “too hot, too cold, just right” parable has been told to countless children over the generations and has also served as […]

I’ve been meeting with clients to review 2022 reports this week. During some of those discussions, I’ve been referencing a chart from a renowned investor that really captures the powerful shift in markets over the past year. The chart is from Howard Mark’s most recent quarterly memo. (Howard Marks is a legendary investor and his […]

We took a lot of road trips when I was a child. Much to my parent’s chagrin, I would usually ask (at least a few times per trip) the age old question – “are we there yet?” I wasn’t trying to be annoying, I promise! I was simply tired of sitting still, tired of waiting […]

As I watched the recent inflation release on Tuesday (and the subsequent jarring market decline), a common phrase kept coming into my mind over and over – “change is hard.” How many times have I said or heard that saying in my lifetime? At least a few hundred – maybe more. Why do I always […]