During 2018, almost all major asset classes experienced declines. As previously commented, many sectors have dropped more than 20% since last September and while safe havens have made some […]

I boarded my usual end-of-year flight yesterday at Boston’s Logan airport. The ticket by itself was unconventional. It simply stated: “Destination at the pilot’s discretion.” That by itself was intriguing. […]

As noted in two previous commentaries (Assessing the Prospects of 2019: Part II and Headwinds vs. Tailwinds: An Initial Assessment of Undercurrent Trends Affecting the Market Outlook for 2019) we […]

Following our initial assessment of next year’s prospects, we discuss below some reasons that make us believe next year may be better than 2018. It seems that until this past […]

Economic indicators such as the Purchasing Managers Index (PMI), Consumer Confidence Index, and the price of oil could be thought as signals of future economic activity. Last year the Eurozone […]

As we are approaching the start of 2019, we could identify five important tailwinds and an equal number of headwinds going into play in the new year. Overall, we believe […]

Victor Frankenstein was the creator of the monster and not the monster itself. Prometheus’ gift of fire to humans was offset by Pandora’s box. Sisyphus’ condemnation to keep rolling the […]

The international financial system is based on credit. At the heart of that system is the bond market whose global size exceeds $100 trillion. Just in the US, the bond […]

Yesterday, while I was boarding an overseas flight, the markets were experiencing significant turmoil. During the long flight, I had the opportunity to contemplate the causes of the recent turmoil. […]

Yesterday the Nasdaq index touched correction territory by dropping more than 10% since its recent highs. Should we be expecting a correction or even a bear market for the rest […]