Advisors are watching this market in disbelief and wonder how to properly balance the risk and return tradeoff of this market without...

We have been criticizing monetary policy for well over a decade now. Many of our concerns can be found in our other commentary. This...

I received a newsletter this morning from a self-proclaimed contrarian value investment firm. The gist of the piece was that the US...

Spreads High yield and lower quality investment grade spreads have contracted precipitously over the past few weeks as a result of the...

We have extensively commented on the economic and political situation in the United States. However, what about other regions? All...

Plausibility We have written extensively over the past several weeks regarding the seemingly decoupling of economic reality and the state...

Spreads The Federal Reserve continues to insert itself in the capital markets. Now they are buying fixed income exchange traded funds...

Equity markets are being dragged north by large tech and social media companies. It is dangerously reminiscent of 1999-2001 period. But...

Optimism and the Human Spirit For several days we have been consuming data, research reports, financial news flow, economic releases...

Synthetic Valuations or the New Reality? We have written extensively about the BTFD-Fed feedback loop that has led to valuations that...

Oil Despite Trump’s supposed diplomatic skills, the US Energy sector is imploding. Short sellers cornered the market to a point where oil...

This commentary is a collection of thoughts without an intended theme. I just feel the need to put my ideas into a document and share...

The Global Corona Craze Self-isolation lockups are now the new normal. It is amazing how much has changed in a few weeks. Brexit is no...

The capital markets have reacted to recent legislation with enthusiasm. The injection of government resources has created an...

Reality Check and Common Sense The big news this morning is that the Senate has passed the long-awaited stimulus legislation. In...

Stimulus or Survival I read this morning that Congress is debating whether to include alternative energy tax credits or emission...

The Problem We spent most of the weekend in isolation. When we did venture out the roads were empty. Notwithstanding the incessant...

Random Thoughts from an Observer The world continues to battle COVID-19 and the solutions are not up to the task, particularly in the...

The Leadership Vacuum It seems that elected leaders worldwide are trying to outdo one another by imposing variations of Martial Law....

October 2019 Commentary History does seem to repeat itself. Impeachment is all the rage in Washington. The Middle East is once again...