Blog

We just published our Q1 2022 Look Ahead, you can view the presentation here or watch our narrated version here. We look at this year as the “thin green line”, with a lot of threads that will make up the difference between success and failure in equity markets throughout… More >>

As an investor in China and specifically their domestic “China A” stock market; I find myself often explaining China to many clients, friends, and family. While surrounded by family and friends this Christmas holiday, China was on the minds of many. With anti-China… More >>

The last few weeks of each quarter typically pose some unusual market behavior. More volatile, erratic, and even negative performance is not atypical. 1 It is my view that the lack of concrete earnings news drives investors to latch onto the news du jour to make… More >>

As the Christmas holiday fast approaches, Wall Street gears up for their annual tradition of predicting how markets will do in the coming year. The tradition is rooted in two very important investor behaviors: Investors love predictions and historically they forget… More >>

It is difficult to digest the mixed signals the economy is putting out in this current –and certainly unique– economic cycle while also remembering the investment game you are playing. Let’s start with the Federal Reserve: Chair Powell effectively acquiesced and removed… More >>

Last week’s blog post focused on a strange dichotomy for the U.S. Consumer; their frustrations juxtaposed with their willingness to spend. I spend a tremendous amount of time focused on the U.S. consumer not just from a domestic macroeconomic perspective, but global. The… More >>

One of my key performance indicators for corporate earnings and U.S. GDP growth is the consumer. However, you do the math: without U.S. consumer spending, we would fast approach a growth cliff. Consumption is about 70% of the U.S. economy. Only on the margins can the… More >>

I have been getting a lot of curious reactions to my view that inflation is transitory as I’m sure the Federal Reserve is as well. After all, last week inflation was reported at a 30-year high of 6.2% on a year-over-year basis. [i] Inflation is such a significant… More >>

As we wrote in our September 7 blog post, Soft Patch, job growth came to a screeching halt in August. Last week’s GDP report showed the U.S. economy slow dramatically in Q3. It was going to take some lifting of wages and jobs to get us over the economic hurdles of the last… More >>

Economic soft spots are showing up across the globe in third quarter GDP reports. China reported Q3 GDP growth of 4.9% year-over-year (0.8% annual rate). [i] The European Union experienced similar weakness in Q3 with collective GDP growth of 2.2% on a year-over-year… More >>