Archives for February, 2014

  1. February 24, 2014

      On Thursday of last week, The Federal Reserve released the minutes from their meeting on January 29, 2014. They made an astonishing statement: "...the Committee continues to see the improvement in economic activity and labor market conditions over that period as… More >>

  2. February 18, 2014

      As we have opined in the past several months, much of the US GDP growth has come from businesses pushing "all in" on the US consumer and building up inventories to meet expected demand. (Source: Moody’s Analytics, GDP) As the impact of inventory on GDP begins to… More >>

  3. February 10, 2014

      (click here for a definition) The latest jobs report should confirm a concern we have expressed for many years; the economy continues to need extraordinary action by the Federal Reserve to keep the macro US economy limping along. In December, the monthly jobs report… More >>

  4. February 3, 2014

      We are now 40% of the way through earnings season. It's a good time to take a quick look at how the scorecard looks—especially since we have seen much of our recent stock price appreciation driven by multiple expansion rather than earnings growth. [i] According to our… More >>