This commentary reflects on the silver linings of the higher interest rate environment as well as explores the possible winners and losers under this new regime.
At -20%, the first half of this year officially went down as the worst 6-month period to start the year for the stock market (as measured by the S&P 500) since 1962 when it returned -22%.
This commentary discusses why it might be prudent to question the assumption that the reopening of the economy will be a boom to the stock market. It also explores the crazy environment for collectibles.
This commentary explores the assumption of a forward looking market, including when it appears to lead and when it has lagged. It also highlights how our reference points shape our perceptions.
Among other things, this commentary explores historical market sell-offs and how our emotional anchor points can influence our perception of those sell-offs.
This commentary explores the ‘Ongoing Unknowns’ as it relates to COVID-19, as well as a bigger picture look at the last 2 decades and the decade ahead.
Investors received a lump of coal for Christmas…and a lot of mixed messages. This commentary explores the apparent contradictions, as well as reviews past bear markets.
Investors were finally reintroduced to the ebbs and flows of normal day-to-day volatility. This commentary explores what normal volatility looks like and why rising rates aren’t all bad.
This commentary touches on the passing of Corporate tax cuts during a period of historically high corporate profits and also discusses the relationship of the unemployment rate with future market returns.
The stock market started off this year in a similar fashion to how it ended last year, in rally mode. The difference this year is that international stocks have been participating as well.