Since the presidential election equity funds have experienced four consecutive weeks of inflows, while bond funds have been experiencing outflows. This makes sense if we consider the anticipated lower tax […]

There is rhetoric, and then there is reality. There are expectations, and then there is reality. There is a death valley but also the valley of peace. There are fears, […]

While the markets enjoy historic highs and particular sectors experienced rallies (such as financial and healthcare) one of the questions that investors may have is whether value can be found […]

In the last two commentaries we focused on asset allocation in times of change and on particular sectors that may benefit from forthcoming policy changes. In this commentary we would […]

As the results of the election kept coming in on Tuesday night, the futures markets indicated a turbulent opening for Wednesday. However, as the morning hours were unfolding and as […]

Within six days the US election will (probably) be over. Serious statistical models show that the outcome may be more uncertain than pundits predict. Some of the latest polls in […]

Markets are looking for an opportunity to break free from the noise of going sideways. It could be that the recently announced deals in mergers and acquisitions could become the […]

This year marks the 60th anniversary since Kafka published his least understood philosophical novel titled “The Fall”. The novel is a series of monologues by its main character (Clamence). Clamence’s […]

The markets seem to be suffering from hyperkinetic activity generated from too much kudzu collateralization, securitization, credit overextension, and central banking intervention. This has resulted  in impulsivity across credit markets […]

Lack of foresight is not a tactical mistake. It is a dangerous strategic error whose price is paid mainly by innocents over a long period of time. In April 1917, […]