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. 

Diverging Trends

Hi Folks, It’s finally sunny in Rhode Island today after a long run of gloomy days.

Value Line Sums It Up

Hi folks, this summary below written by VALUE LINE on another down draft in the market shows that all selling hasn’t been exhausted yet. VALUE LINE is one of the oldest and my most highly regarded Investment Research Services in the core platform that I pay for. I believe their summary identifies all of the issues with clarity. All of the additional sources of research that I read seems to concur with their conclusions. The markets have been delivering some fairly outsized returns for the last several years. The best way to describe today’s market behavior is a correction to the markets’ overpricing of the business returns earned by the underlying companies.

Looking Back on 2017

Hi folks, there are a lot of ways from an investment standpoint to evaluate 2017. According to Callan’s Periodic table, here are just a peek at some of the results.

Where Do We Go From Here?

Hi All, from where I stand it appears there is enough investor interest and market momentum to carry us (the Market) a bit further into the new year. 

Assessment of 2017

From a U.S. investor’s viewpoint, 2017 has been a very good year. I am almost afraid to say that out loud in fear of spooking our very calm current market that typically experiences some volatility on a regular basis.

Ours and Theirs

Hi folks,


As I work to complete my final portfolio reviews for all of this year’s clients with an eye towards tax planning, two things become quite apparent. First, our investment performance in all sectors has been quite strong. Second, our elected officials have dropped the ball all year on tax reform. 

No Shortage of Enthusiasm

Hi all, we seem to be caught up in a general feeling of euphoria when it comes to the stock market at the moment. Despite some difficult news dominating the news headlines daily, investors seem content to stay invested and buy on the dips. The President’s announcement today of Jerome (Jay) Powell to succeed Janet Yellen should signal the extension of Yellen like steadiness at the Federal Reserve. He is described by those who know him well as a skilled consensus builder who demonstrates a profoundly reasonable approach in driving decisions. I think it’s safe to assume that rate hikes will be gradual and the process of unwinding the FED balance sheet will be gradual as well.

Black Monday in the Rearview

Well folks, the best thing about the anniversary of “Black Monday”  was that not many Americans seemed to care or remember. For the original event, I was in my office at 10 Hanover Square huddled with some of my staff in front a screen watching the free fall. As I remember it, there were a lot of nervous comments being made by the younger watchers while the older veterans were busy plotting what to buy and when during the selloff. There is nothing like a good selloff to bring out the real sharks.

I also remember well how quiet the elevators were as people quietly departed for home. I am sure that the most of the group was focused on what Tuesday might bring. "Was this drop going to continue?" was probably the biggest held fear.