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“What’s Up? (What’s Going On?)”

“What’s Up? (What’s Going On?)”

by | Jan 13, 2023 | ,

Many supply chain issues have been resolved mostly and it is our impression that finding and retaining a desired workforce has become somewhat less onerous. We speculate that this recent outperformance might be an indication of a somewhat less tight labor market.
Volatility across sectors continues to be supportive of a well-diversified global portfolio for long term investors. As the Fed’s “quantitative tightening” (QT — contraction of the Fed’s balance sheet) progresses, we expect liquidity to contract in financial markets. We were very encouraged by the positive reversal of many large cap bank stocks on Friday. We view such reversals as a positive indicator for bank stocks in particular as well as for equites in general.

A Dose of Dispassion

A Dose of Dispassion

by | Oct 7, 2022 | ,

This is not about catching the ultimate low or ringing the bell at the bottom. Instead, it is about being disciplined about long-term potential when the near-term is highly uncertain. A dose of dispassion is helpful in times like these.

Speak Firmly and Carry a Big Hike

Speak Firmly and Carry a Big Hike

by | Aug 27, 2022 |

When Theodore Roosevelt encouraged policymakers to “speak softly and carry a big stick,” clearly, his target audience was not central bankers. Chairman Powell’s speech was significant because its message was precisely counter to what markets started to price in since mid-June.