Recent Posts

  1. November 28, 2022

    The ultimate consumer shopping days are now in the books and the outcomes are impressive.  According to recent transaction data from Adobe, consumers have spent more this holiday season than 2020 or 2021.(1)  While growth rates are modest, raw dollars being spent are… More >>

  2. November 23, 2022

      On behalf of the entire team at Phillips & Company Advisors, we wish you and your family a wonderful Thanksgiving. In an unprecedented year of challenges we are still mindful of the many things we are thankful for, especially your trust and confidence. Tim… More >>

  3. November 21, 2022

      During any trend transition from growth to contraction, and back to growth, investors are pitted against each other – between optimism and pessimism, classic buyers vs. sellers. The two overarching themes of our current environment are interest rates and inflation. Over… More >>

  4. November 14, 2022

    Last week was a classic reminder to those that believe they can outsmart and outwit equity markets. The notion that someone has a crystal ball into what moves millions of equity investors should be debunked for the time being. Our basic ground rule is equity returns occur… More >>

  5. November 7, 2022

    Once again, we are left in monetary limbo. The Federal Reserve raised interest rates by 75 basis points last week, taking the Fed Funds rate to 4%. Unfortunately for investors trying to understand how to value future cash flows, the Federal Reserve was also uncertain about… More >>

  6. October 31, 2022

    At Phillips & Company we interact with thousands of clients each year. The data points we gather by listening are incredibly powerful. It’s not infrequent at this stage in an economic cycle, especially with the massive drawdown in portfolios, that clients ask why we… More >>

  7. October 24, 2022

    It’s a difficult task as an investor to allocate capital when we are in the midst of so much interest rate uncertainty. The formula is pretty straight forward for equity investors. We want a premium return over the risk-free rate (10-year Treasury). Everyone might want… More >>

  8. October 17, 2022

      “No amount of sophistication is going to allay the fact that all of your knowledge is about the past and all your decisions are about the future.” Ian E. Wilson (former Chairman of GE) Last week’s inflation data dealt a crushing blow to any hope of avoiding the full… More >>

  9. October 10, 2022

    At the heart of the economic debate surrounding inflation is consumer demand. I’ve argued that around 60% of inflation is supply driven, but that’s not part of the current conversation. The argument goes something like this: if inflation moderates the Fed can pause rate… More >>

  10. October 3, 2022

    Our Q4 2022 Look Ahead is available for review. The video link is here and the PDF version is here. In this post, we highlight some key themes we see in the coming quarter. The Fed is on course to move the terminal fed funds rate to 4.25% by year-end. Historically the… More >>

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