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Change is Good
by Sam Stewart, Seven Canyons Advisors Investment Team of Seven Canyons, 10/25/18

Change is good, but some things shouldn’t—and one of those is quarterly publication of my overview of the economy and the markets. I always like to start this commentary with an overview of the economy, as most stock market events are driven by economic events.

When a 12 Year Old Asks if You Watch Cramer
by Sam Stewart of Wasatch Global Investors, 7/14/17

With Market Indices at or Close to All-Time Highs, Investors Puzzle Over the Course Ahead. Meanwhile, The Slow-Growth Economy Is Perceived as the New "Goldilocks Scenario."

Animal Spirits
by Sam Stewart of Wasatch Global Investors, 1/11/17

I believe this rally was the result of animal spirits based on the notion that Trump’s pro-growth policies will support the economy. At the same time, many investors assume that growth in the economy will lead to upticks in inflation and interest rates, which—along with lighter regulations—are perceived as positive for business.

Theatre of the Absurd
by Sam Stewart of Wasatch Global Investors, 10/20/16

Like the Enigmatic Title Role in the Play Waiting for Godot, a Resolution Regarding Global Monetary Policies Remains Elusive. But Perhaps We’re Waiting in the Wrong Place.

The More Things Change, the More They Stay the Same
by Sam Stewart of Wasatch Global Investors, 7/11/16
In spite of the many short-term market-moving events, the underlying economy has remained largely unchanged over the past five years. Each crisis has passed without the more pessimistic predictions becoming reality. And the global economy has continued to be stuck in low gear regardless of the unprecedented amount of central-bank stimulus—whether that stimulus has been quantitative easing, operation twist or negative interest rates. So from my perspective, we’ve been witnessing the wisdom of that old adage, “The more things change, the more they stay the same.”

90% Psychological, 10% Logical
by Sam Stewart of Wasatch Global Investors, 4/6/16
So here we are with very modest global economic growth, seemingly excessive gains in stocks over the past several years, potentially flawed monetary policies around the world, and mediocre readings on the sentiment indicators I follow. Although this may sound like a prescription for flat—or possibly even falling—stock prices going forward, I continue to be the “nervous bull” that I’ve been for quite a few years.

No More Excuses!
by Sam Stewart of Wasatch Global Investors, 1/12/16
What’s really important going forward is not the Fed’s recent decision?—?which was widely conveyed ahead of time?—?but the course of several issues that will play out globally. These issues include the type and duration of monetary policies that will be pursued by the world’s central bankers, and the trends in commodity prices, currency values, credit spreads and longer-term interest rates.

Air Pockets!
by Sam Stewart of Wasatch Global Investors, 10/14/15
Global Stock Prices Dropped on Headline Concerns. But What Were the Underlying Causes? And Where Are the Opportunities?

Three Yards and a Cloud of Dust
by Sam Stewart of Wasatch Global Investors, 4/17/14
Former Ohio State football coach Woody Hayes was well-known for his conservative offense-often quoted as saying, "There are only three things that can happen when you pass, and two of them are bad." The two bad outcomes are either an incompletion or an interception. Instead, Hayes favored a methodical, grind-it-out approach, running the ball directly into the line: "three yards and a cloud of dust." What Hayes style of play may have lacked in pizazz, it more than made up for in results. The U.S. economy today is following a similar offensive playbook, but with less satisfying results.

Introducing the Tortoise Economy
by Sam Stewart of Wasatch Global Investors, 10/4/13
All things considered, large U.S. companies that operate globally appear to be particularly attractive right now. Because many of these companies are generating significant portions of their sales outside the U.S., investors are effectively getting some international exposure with what I consider to be more-quantifiable risks.

Waiting for Godot
by Sam Stewart of Wasatch Global Investors, 1/9/13
Like the enigmatic title character in Waiting for Godot, clear signals of U.S. economic health remain much anticipated but elusive. The year 2012 saw consumers and businesses mimicking the Samuel Beckett play?? - with optimists waiting for things to get better and pessimists waiting for things to get worse.

Baby Steps in the Complex Global Recovery Wasatch Funds
by Sam Stewart and Roger Edgley of Wasatch Global Investors, 2/17/11
The U.S. recovery is generally headed in the right direction. The good news is that credit markets are easing and many economic indicators are slowly improving. The bad news is that unemployment remains stagnant, companies are hoarding cash, and we have a growing federal deficit to address. The recently passed tax bill is good psychologically. People are generally pleased that their taxes won?t be going up this year, despite other concerns they may have with the bill. More importantly, this was one of several pieces of recent legislation showing the renewed possibility of bipartisanship.
12 results found.