This year’s market gyrations should be viewed under the microscope of leverage. When we do that as the first figure shows below, then we can possibly start comprehending that in […]

In this week’s commentary, we would like to discuss our perspective for the short-term based on some changes we have been observing in the market. However, before we show this […]

During times of accommodative monetary policies when rates drop and earnings prospects shine, growth stocks usually outperform value stocks. In a basic valuation model of discounting future earnings (especially for […]

In security conferences around the world, speakers have been describing the rising threats and the rising level of insecurity, while at the same time wondering where the American leadership has […]

In the recent market turmoil, corporate bonds seemed able to sustain their values. Could we assume that in a future market turmoil they will continue showing signs of immunity? Last […]

Should we always buy the dip? The strategy has worked over a number of years. Is this time different? The blame over the recent market turmoil has identified some usual […]

As a starting point allow me please to summarize what we communicated to our clients during the recent market turmoil. First, let’s review what we perceive are the main causes […]

It seems that we may be in for another tech-earnings party today. As these lines are being drafted, Microsoft and Facebook are expected to report rising profits and anticipation is […]

At the beginning of 2017, it cost $1.06 (USD) to buy one euro. As of today, $1.235 is needed to buy the same euro. Does that reflect US economic weakness […]

As a starting point, let’s briefly review a few of the forces that are shaping up equities in a positive trajectory during at least the first few months of 2018. […]