Market Commentary

A Quiet Summer?

August 16, 2017

There is an old adage “sell in May and go away”, which suggests that investors should sell their stocks in May and buy them back in November in order to avoid the [...]

The Dollar’s Drop

August 3, 2017

Immediately following the US Presidential election last year, the dollar soared to levels not seen since 2002 on the promise of “pro-growth” economic policies. [...]

The Next Leg Up

July 26, 2017

A couple weeks ago a reporter asked me about my views regarding the upcoming 2Q earnings season.  He wanted to know if corporate America, in the aggregate, will surprise to [...]

The Next Correction

July 5, 2017

Over the last few months we have seen a fairly dramatic decoupling between oil prices and stock prices.  The chart below shows that prior to this year, there had been a [...]

What Deleveraging?

June 20, 2017

Over the past few years you’ve probably heard an economist or two talk about “deleveraging.”  Deleveraging simply means debt reduction, and you’ve [...]