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Tactical Update
This “recovery” is in its 4th year. Unfortunately, we have yet to see robust growth in employment or incomes. The recovery continues to be about low interest rates and abundant liquidity. Cheap...
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Tactical Update
Here is a list of things that concern us. Fed incentivized risk seeking A recent surge in risk asset prices Continued global rebalancing Continued global deleveraging Bail-ins as much or more than...
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Tactical Update
One of the top story lines of the past 6 months has been the BOJ, Abenomics, and the dramatic repricing of the Yen. To date, we are looking at about a 25% drop in the value of the Yen. This is a...
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Tactical Update
The Nikkei moved down over 7% in one day this week. The S&P put out a potentially bearish technical sign, A Key Reversal. The market experienced flash crashes toward the end of the week. Despite...
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Tactical Update
As we’ve been reporting, the economic data has been showing weak performance. But, the market hasn’t seemed to mind. QE is in high gear. It is supporting asset prices as the over-leveraged sectors...
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Tactical Update
As reported last week, we added some companies from our watch list. The expectation is that these buys will eventually be offset with sales of companies which we don’t feel offer the upside...
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Tactical Update
Easy money, especially quantitative easing, presents unique challenges for investors. The FED has lowered the cost of credit, therefore lenders make less. The other side of the accounting ledger is...
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Tactical Update
The recent weak economic trends have, to date, not equated to stock market weakness. The rise in interest rates is being, reportedly, caused by talks of tapering. Perhaps, but the negative feedback...
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Tactical Update
The stock market continues to show weakness. There is plenty to be concerned with: Global conflicts — Syria US foreign policy–alliances or lack there of G20 Summit this week in St. Petersburg, Russia...
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Tactical Update
In today’s environment, our focus is on finding good companies and unique investing opportunities. We added one such company to the portfolio this week. The company has enviable revenue growth, strong...
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