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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  • Stock Market

    How Expensive Is the Market?

    Nov 19, 2020

    The 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…

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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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  • Economics

    What Are the Markets Telling Us?

    Nov 4, 2020

    Anyone 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…

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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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  • Economics

    Tallying It Up

    Oct 22, 2020

    The word “trillion” is thrown around quite casually these days in Washington.  Hearing members of Congress go back and forth using such massive denominations i…

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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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  • Economics

    Don’t Believe the Hype!

    Oct 7, 2020

    Last 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…

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  • Economics

    Housing — A Curse in Disguise?

    Oct 1, 2020

    In 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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