Market Insights

Making the economy, markets, and personal finance less complicated

  • Investment StrategyStock Market

    Leadership Change, In More Ways Than One

    Nov 25, 2020

    In last week’s Market Commentary, I talked about the fact that the market value of the S&P 500, at about 21.7x the consensus earnings estimate for 2021, ha…

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  • EconomicsInvestment Strategy

    Hit ‘Em Where They Ain’t

    Nov 12, 2020

    Generally speaking, the developments over the past couple of weeks have been received positively by investors…VERY positively. As I write, the S&P 500 is u…

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  • Investment Strategy

    The New Market Bubble

    Oct 31, 2020

    Market bubbles are always a surprise and always expected. They build in plain view, and ignoring them requires greater and greater effort as they inflate. Onlo…

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  • Investment Strategy

    Bank Earnings Reports . . . Meh

    Oct 16, 2020

    The nation’s largest banks have been reporting earnings this week, and the results are mixed. Goldman Sachs, Morgan Stanley, PNC and JP Morgan all reported big…

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  • Investment Strategy

    About Face!

    Sep 25, 2020

    The S&P 500 peaked at an all-time high of 3,588 on September 2nd. Over the ensuing 22 days the index has dropped about 10% - enough to officially call it a…

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  • Investment Strategy

    Asset Bubble Inflation 101

    Aug 27, 2020

    In my August 13th Market Commentary, I discussed the conditions that would be required to finally see a rotation out of the mega-cap technology stocks.  This i…

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  • Investment Strategy

    But Will It Continue?

    Aug 13, 2020

    I know I sound like a broken record, but it appears that, once again, a market rotation could be underway.  The S&P 500 Information Technology sector reach…

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  • Investment Strategy

    Banks Go On Defense

    Jul 1, 2020

    Steady growth in consumer spending is the key to a robust US economy, and right now the outlook doesn't look all that promising.  We discussed in our June 18 M…

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  • Investment Strategy

    The Nifty FAANGs

    Jun 25, 2020

    At the risk of sounding repetitive, I feel compelled to revisit a trend that has been remarkably consistent and powerful over the past several years.  A small …

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