In the Conversation: No Surprises Here

Tom WilsonTom Wilson, Managing Director, Wealth Advisory &
Senior Investment Manager

After completing their two days of meetings, The Federal Reserve decided to leave the Federal Funds Rate unchanged. As noted in yesterday’s blog, this was the consensus opinion of what would take place today.

The Fed noted that general business conditions had improved since their last meeting in July. They specifically noted the continued improvement in the labor markets, strength in the housing sector, and modest improvement in consumer and business spending. On the negative side, they stated that export growth has been soft and that inflation continued to run below the committee’s longer-term target. In addition, Fed chair Janet Yellen commented that weakening global growth had also contributed to today’s low level of inflation.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change.

Investment Insights Podcast – March 13, 2014

Bill MillerBill Miller, Chief Investment Officer

On this week’s podcast (recorded March 11, 2014):

  • What we like: Middle of business cycle; increasing amount of deals in the markets; John Maynard Keynes’ “animal spirits” influencing economists’ foresight for pick up in spring and summer; earning estimates for first quarter too low – good news; out of the woods with Fed tapering
  • What we don’t like: Uniform belief that it is all good news; consensus view means meeting numbers is not enough
  • What we are doing about it: Some rebalancing; watchful that the consensus opinion is not so well-believed.

Click the play icon below to launch the audio recording.

The views expressed are those of Brinker Capital and are for informational purposes only. Holdings are subject to change.