The Big Battle Of 2021: Godzilla Vs Kong, Or The Market Vs The Fed?
We hope to return soon to activities that were untenable the past year, like going to the movies. While streaming services are great, nothing compares to watching a movie on the big screen, especially a larger-than-life Hollywood blockbuster like Godzilla vs. Kong, which is premiering…
When It Comes To US Debt, What Matters Most? The Amount? The Cost? Both?
We are not breaking any news when we write that US debt outstanding and the federal deficit are historically large numbers – on both an absolute and a relative basis – with the former now north of 100% of gross domestic product, or GDP. And…
“No Jules, It’s High-Yield Bonds”
There are two ways one can hope to understand the 1980s – you lived through that momentous decade, or you’ve seen the 1998 Adam Sandler classic “The Wedding Singer.” Trust us, Mr. Sandler got the decade more right than wrong: the clothes, the hair, the…
Breakin’…The Movie & The Yield Curve (As In, The Yield Curve Is Breakin’ Out)
Some of us remember a time BEFORE breakdancing; let me tell you, those were dark days. Then, everything changed! We were introduced to moves like “The Windmill” and “The Freeze” and dancers like Crazy Legs and Mr. Wiggles (what awesome names!). Some of us became…
If Demography is Destiny, Thank a Millennial
When markets obsess over the news of the day, such as GameStop and a short squeeze of epic proportion (more on that in a bit), the best thing we can do as long-term investors is take a step back and focus on what drives the…
Tremble Before B.A. Baracus? Always. Tremble Before the Baa Spread? Not Today.
In the 1980s, no actor was tougher or more intimidating than Mr. T, who was made famous by his role as the hard-hitting Clubber Lang in Rocky III (“What’s your prediction for the fight? Prediction? Yes, prediction. Pain.”). Mr. T also starred in “The A…
As goes January… so far, so good
As you might expect, an institutional investment firm like ours spends most of its time monitoring and interpreting economic and market indicators, tracking portfolio and strategy performance, and rebalancing exposure to major and minor asset classes – all with an eye towards providing our clients…
Kind of, pretty much, just about divided government
The S&P 500 Index is up an extraordinary 16% since election day – November 3, 2020. As we think back on the past 10 weeks, we arrive at two primary catalysts for the market’s remarkable run: dramatic breakthroughs on the COVID-19 vaccine front and a…
To Better Times
While we may have turned the page on 2020, the challenges and uncertainties of the old year have followed us into the new year – the coronavirus continues to ravage our country and we still don’t know what party will control the US Senate, and…
How to spot a bubble (Hint – keep an eye out for Tom Hanks)
Several financial publications have recently argued that US equities are in a bubble. A bubble being a point in time when the price of an item runs far above its real value, driven in large part by irrational investor enthusiasm for the asset. The catalyst…