Bonds Say To Stocks, “We’re Just Not That Into You.”
Five years ago, several European countries (e.g., Portugal, Italy, Greece, etc.) appeared as if they might default on their sovereign debt obligations. Gold prices spiked. The Japanese yen soared. U.S....
View ArticleDon’t Put All Of Your Eggs In The ‘Tax Cuts Are Coming’ Basket
It does not matter what you call it or how you explain it. The Trump trade. A tax reform rally. Heck, you can attribute the longest uptrend in history without a 3% pullback to global quantitative...
View ArticleThe Big Bad Bull Gets Meeker And Weaker
Can the U.S. economy grow without the federal government overspending? Apparently not. Since the financial crisis in 2008, GDP has only grown alongside massive Treasury debt issuance. Some might argue...
View ArticleWhy Are Investors Considering Alternatives To Stocks?
Mortgage interest payments as well as non—mortgage interest payments are costing consumers more and more of their disposable income. Consider the non-mortgage variety. Personal interest payments have...
View ArticleIs The World’s Largest Hedge Fund Wrong About Stock Assets?
Bridgewater Associates has roughly $160 billion under management, making it the largest hedge fund on the planet. Exchange traded funds like Vanguard FTSE Emerging Markets (VWO) the SPDR Gold Trust...
View ArticleMarching Orders: Key Indicator Issues Signal To Reduce Stock Risk
Financial stocks should benefit from phenomenal employment trends as well as rising rates. Yet the Financial Select Sector SPDR (XLF) is down roughly 12% from a 2018 high and down nearly 5%...
View ArticleSo Goes Apple, So Goes The U.S. Market
Apple (AAPL) has been one of my largest individual holdings for the bulk of the post-recession stock bull. I believed in it when it was trading for one-tenth of its current value back in 2009. I even...
View ArticleStock Market Rally: You May Be Right, I May Be Crazy
According to Jay Powell, Chairman of the Federal Reserve, the U.S. economy is performing well. It is difficult to take the assessment seriously. After all, as recently as mid-December, the Fed intended...
View ArticleJust A Manufacturing Recession? Stocks and Bonds Think There’s More To It
Six weeks ago, I made the case that the “ex-U.S.” stock bear began in January of 2018. It was a relatively easy case to make. After all, the MSCI World Ex USA Index fell more than 20% from its all-time...
View ArticleHere’s Why You Need To Hedge Your Stock Investments
Stock market records have a way of enthralling everyone. However, the stock market is not currently reflecting the economy or the corporate backdrop. For example, one may hear that the job market is...
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