Strategic Assets and Strategic Mistakes: Tactical Moves for 2016 and Planting COG Seeds for the Day After 2016 (Investment Paths Series, Part IV)
It’s so wonderful to have friends who teach you about some great moments in history that could have been pivotal for the world we live today. A few days ago, I was visiting with Dan Schechter in Los Angeles – principal of L.E.K. Consulting, a prominent global...
Weekly Market Update
Market Action Stocks welcomed the first interest rate increase in nearly a decade with a strong rally on Wednesday but gave up gains the following two days and closed down on the week. Energy and materials continued their dismal performance this year. Argentina lifted...
Weekly Market Update
Market Action Global equity markets sold off considerably this week. Renewed volatility in energy, tremors in high-yield debt and widespread expectations of tightening monetary policy from the Fed next week were all contributing factors. OPEC’s decision to keep with...
Market Mispricing and Distortions: Liquidity and Credit Concerns
Over the last few days the markets have exhibited signs of fears and some distress. Diverging a little bit from our recent commentaries that dealt with the investment paths of 2016, I would like us to review the main reasons for the recent market behavior. Before...
The Investment Paths of 2016, Part III: Ain’t Misbehavin’ and the Crossing of the Volatility Bridge
During most of 2015, investors had to worry about a Grexit, a China slowdown, a commodities bust, or a synchronized degradation of market expectations. At the dawn of 2016, we are of the opinion that a bridge is open that can put behind the volatility of 2015 and...
Weekly Market Update
Market Action Thanks to a strong jobs report on Friday U.S. stocks rallied to end the week slightly positive. European equities declined sharply this week after a disappointing policy announcement from the ECB relative to expectations. The ECB lowered its main policy...
The Investment Paths of 2016, Part II: From Risks to Opportunities
Much ado about nothing may end up being not just a Shakespeare play but also the reality that will sink in after the Fed starts raising short term rates. All those talks, analyses, papers, assessments, and myriads of opinions about the terrible effects that the rate...
Diverging Asymmetries and Market Fragilities: Understanding the Investment Paths of 2016, Part I
Well-respected publications such as The Economist and The Financial Times have recently published extensive reports regarding the threats to the global economy from emerging markets’ debt. The fact is that emerging market economies have accumulated significant amounts...
Weekly Market Update
Market Action Despite continuing concerns about the vibrancy of the retail sector stocks posted a strong week, led by the Consumer Discretionary sector. Emerging markets are posed to record their first acceleration in growth in 2016 since 2010 according to a new...
Weekly Market Update
Market Action Stocks delivered one of their worst weeks since August, when China’s devaluation and macro concerns sparked volatility. Every sector, save for Utilities, saw a sharp downturn as poor retail sales and earning reports combined with increased tightening...
