Market Updates

Consumer vs. Technocrat

Developed markets are depending upon the strength of consumption to carry them through the current earnings rough patch being experienced by corporations. At the same time many institutional investors ask us to rely on the emerging middle class in developing Eastern Europe, Asia and Latin America fo[...]

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Government Reporting by the Book

The Federal Reserve Bank’s “Beige Book” was released last week providing some insight into their current perspective. The Fed’s report said “that economic activity generally expanded modestly since the last report while “consumer spending was generally flat to up slightly.” The manufac[...]

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Europe’s Back and so is Employment

Last week we received some mixed messages about our economy with manufacturing data showing some weakness while the employment report showed significant improvement. In addition, Europe was back in the news as Spain and Greece re-entered investors psyche. One of the benefits of the focus on Europ[...]

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Monday Morning Market Update

The troubling economic news has been offset by a round of stimulus from Central Banks in the U.S., Europe and Japan. As a result, stock markets cling to their recent gains and bond yields in the most successful developed countries remain near all-time lows. The question is, as we enter October, a mo[...]

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Never Mind the Fed and the ECB, Don’t Fight Apple.

Over the last two weeks we received good news from both Central Banks here in the U.S. and in Europe. Messrs. Bernanke and Draghi provided stock and commodity investors assurances that they stand ready to provide all the liquidity necessary to put a floor under their respective economies. Also last [...]

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OMT, U6 and Why are there Two Stock Markets?

In the alphabet soup that is the European Central Bank’s (ECB) quiver we have a new arrow, OMT (Outright Monetary Transactions) care of Mario Draghi (ECB President) and his Council. Add this to the LTRO’s, the EFSF and the ESM. Last week’s news regarding the ECB’s new program led bond yields[...]

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Just the Facts

“All we want are the facts Ma’am”. For those of you who remember Jack Webb’s character, Sgt. Joe Friday, making that statement each week on the popular series Dragnet, you might have longed for Sgt. Friday when listening to Fed Chairman Ben Bernanke’s speech on Friday at the Kansas City Fe[...]

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Medicare Spending

The political debate between parties will reach a fever pitch over the next two months leading up to the election.  We know that one of the key issues facing our economy is the cost of entitlement programs including Social Security, Medicare and Medicaid.  As these programs are expected to take up[...]

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Monday Morning Market Update

Kids either have already returned to, or are returning to school this week. With the start of a new school year we go through the planning process to make sure they have the right supplies, clothes, shoes and electronic devices. Then the most important family event of the new school year takes place[...]

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What does a reader do on vacation?

Well, read of course. I have been on vacation for the last week and took some time to read something other than investment manager updates and research reports. I have been a sailor for most of my life and always fascinated by sailing lore. For many years I was a very big fan of Tristan Jones, a sai[...]

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