“Wise men speak because they have something to say; Fools because they have to say something.” –Plato I’d like to begin this note by saying I’m not trying to imply anything regarding my writing with the above quote; I happen to like it and thought you might too....
At the end of the year Barron’s Magazine gathers the opinions of well-known mutual fund managers to gather their economic/stock market forecast for the upcoming year. The forecast for 2015 called for the following: GDP growth of 3-3.5%, profit growth of 8-10%, a 10yr...
It seems that investors have become complacent regarding the health of the economy. Changes occur at the margin as things go from great to less great. We are a very late cycle economy with a global slowdown in growth combined with dis-inflation. This is what the...
According to Bloomberg, $406B of Mergers & Acquisition deals have been announced globally this quarter, including $170B in the past week alone. This puts 2015 on track for a record year with projected volumes north of $1T. The annual record prior to that? Yup:...
Despite its age, the current bull market in stocks is still alive. Historically they average 39 months, but at 62 months the current one is not showing any signs to indicate the end is imminent or as we call it, Major Market Top. In recent months, market pundits have...
In previous letters I’ve written about how the current long-term uptrend of the stock market is beginning to show signs of age. I’ve characterized it as “getting gray around the temples.” What it means is that slow, albeit subtle, change is taking place beneath the...
