Exciting Times

Apparently Trump has the Midas touch! For the record, I prefer the idea that Trump will try things and risk going down swinging instead of managing the economy to not crash under his watch. The not crash approach is that of Japan, and I don’t think we want to...

HALLOWEEN BOND SCARE?

We have seen a lot of worry on bonds over the past few months, with rates turning up again and affecting the prices of bond-like stocks such as utilities. But this looks no different from the bond scares we have seen over the past year or more, particularly the scare...

Where’s the Party?

Not here. Our little-faith-in-central-bank-interventions tendencies aren’t getting much love despite hard data that are warning of clouds on the horizon. We could have done better over the last few months by following the dictum of continuing to dance while the...

Stock-Picker Guy

How do you pick stocks? (This is a big, complex topic. So this post is both a bit longer than usual and painted with a broad brush.) If you do stock picking for a living, you’d better have an answer, and it had better be good. Honestly, though, my impression is that I...

GDP

I wanted to take a minute to talk about the GDP report. It was much worse than I expected. No big deal for us, as we expected it to be a one-off positive, similar to how oil spiked up 6 weeks ago and has now been tailing off. Our answer to the expected report was to...