- Investment StrategyStock Market
Leadership Change, In More Ways Than One
Nov 25, 2020Read MoreIn 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…
- Stock Market
How Expensive Is the Market?
Nov 19, 2020Read MoreThe stock market has blasted into record territory following encouraging news about COVID-19 vaccine candidates. At its current level of 3,613, the S&P 500…
- EconomicsInvestment Strategy
Hit ‘Em Where They Ain’t
Nov 12, 2020Read MoreGenerally 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…
- Economics
What Are the Markets Telling Us?
Nov 4, 2020Read MoreAnyone who stayed up past about 11:00 last night watching the election returns knows that the polls pretty much got it wrong . . . again. The much-vaunted “bl…
- Investment Strategy
The New Market Bubble
Oct 31, 2020Read MoreMarket 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…
- Economics
Tallying It Up
Oct 22, 2020Read MoreThe word “trillion” is thrown around quite casually these days in Washington. Hearing members of Congress go back and forth using such massive denominations i…
- Investment Strategy
Bank Earnings Reports . . . Meh
Oct 16, 2020Read MoreThe 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…
- Economics
Don’t Believe the Hype!
Oct 7, 2020Read MoreLast Friday we learned that the unemployment rate fell to 7.9% in September, which is well below the peak of 14.7% in April of this year. The news was taken by…
- Economics
Housing — A Curse in Disguise?
Oct 1, 2020Read MoreIn recent months economists have consistently pointed to the housing market as a sign of economic strength. And it is...unless you don't own a house. But more …
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