Blog

Shifting Sands

Hi Folks,

 

Late summer is a good time to review our yearly progress and make adjustments in our asset our allocation decisions If needed.

Mid-Year Outlook 2018

Well, folks:

 

It is turning out to be a good year. Despite a modest regression in the first quarter and following a very strong 2017, 2018 is showing good signs. The balance of 2018 once again looks rosier.

 

Market Conditions

Hi, folks:  

 

Economic conditions continue to be strong but are starting to fray on some of the edges. The first quarter, when all the results were in, was somewhat weaker when compared to YOY comparisons. However,

 

Drifting Sideways With Hope

Well, folks:

It should be quite clear that the market as of late has not kept pace with the strength of recent earnings growth.

 

The News; The Good, Bad and No Ugly

 

Well, folks:

 

We did have a bout of market jitters in the first quarter caused by fears of an all-out trade war and some non-farm payroll decreases ( that were probably weather related) that signaled an economic slowdown.

 
 

The Battle Over Trade and Tariffs

Hi folks,

 

I spent a good part of last Friday at Wellington Management in Boston focused on the global markets, trade, tariffs and what could become a protracted and heated exchange between the U.S. and China.

 

Ready, Fire, Aim

Hi, folks: the first quarter started fast, and soon turned into a bumpy ride. Volatility, long absent, has returned and shown itself in both positive and negative short-term moves. We started the New Year with a stock market that was fully priced by most measures. I believe that the threat of imposing tariffs on imports from some of our most important trading partners could have been the catalyst that triggered the first large (700 point decline).

Times: They are a' Changing

Hi folks,

 

As we slog through the stock market of February-March, it appears quite clear that January ended a long and pleasant stock market run, earmarked by the absence of volatility - especially down volatility. I guess we were right when we cautioned that this seemingly unnatural, extended upward trajectory would not go on forever.

The Looming Four Ts

Hi folks,

I learned early on in my career, while financing energy producers in Oklahoma and Texas, that the Heads of the Seven Sisters, in part, formulated most of our Middle East policies. That name, which was taken from the 7 mythological Pleaides sisters taken by the Titan Atlas, was later adopted as a description of the 7 largest multinational oil companies in the world. The companies are as follows:

Drama and Doings in the White House

Hi Folks

The Trump Presidency seems to provide a constant source of material/ news for the press.