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The S&P 500 touched another record high last week, marking the 45th time it has set a record this year. Last week’s blog covered the topic of extreme pessimism. Really smart people can be seduced into pessimistic thinking even when the only logical reaction should be… More >>

The world is grappling with a series of challenges: Escalating wars in the Middle East and Ukraine, a cataclysmic hurricane in the Southeast, and the uncertainty surrounding the upcoming Presidential election. For investors, it feels like scaling a wall of worry. While… More >>

Equity markets maintained their upward momentum in the third quarter. For the first time in several quarters, large cap core outperformed growth. As interest rates began to decrease, we witnessed a tech sector recovery late in the quarter. This rate reduction also boosted… More >>

The Federal Reserve's much-anticipated interest rate cut materialized last week. The Fed slashed rates by 50 basis points (bps) and signaled more reductions on the horizon. The Federal Reserve Board's rate-setting committee provided some forward guidance: an additional 50… More >>

This week the Federal Reserve will almost certainly cut interest rates. In fact, current market expectations suggest a 39% probability of a 25 basis point cut and a 61% chance of a more substantial 50 basis point reduction. But is this good news for investors? 1 I,… More >>

In the world of interest rates, things have finally returned to normal. Short-term rates are now lower than long-term rates and that seems right. Investors should get compensated more for longer duration bonds compared to shorter duration bonds. The yield curve began to… More >>

As the U.S. economy creeps towards a round of rate cuts, I think it’s important to take a step back and look at what is going to happen to all the money on the sidelines. Right now, money markets are sitting on a record $6 trillion. 1 The allure of higher yields on… More >>

We’ve had an eventful few weeks of economic data that has led to a significant shift in interest rate policy, with the Federal Reserve Chair announcing a decisive move to lower rates. Here is a summary of what he said in his recent speech. 1 On Interest Rates: “The… More >>

The nonstop nagging question of the last couple of years has been, “When will inflation abate?” I was certainly in the transitory camp, expecting inflation to subside much earlier than it did. However – and I say this cautiously – we may finally be witnessing the… More >>

Market performance last week was the most consequential in years and at the same time it was like nothing occurred. If you went on a media vacation for the week, you would have hardly noticed any change in the major indexes. The S&P 500 had a precipitous drop on Monday… More >>