The End of the Beginning?
This Coronavirus crisis has been compared to war, and rightfully so. Our people are under attack, and how well we fight may in large measure determine how long it takes to achieve victory and how many casualties we will suffer. We had some important developments in...
Hydroxychloroquine? What would Dilbert do?
And will we get a bill passed? Another eventful day. I have to admit I reached for my phone at zero dark thirty to see how the overseas markets were doing and found little comfort. The S&P 500 futures market had also traded to the limit and received a “time out”...
The Key to Long-Term Success
At some point in the future, hopefully very soon, the worst of this will be over and we will better understand how serious it was/is/will be. As we work from home and stay safe, we want to stay in close touch with our clients and our friends and professional...
Facing the Challenge
We would like to tell you the answer. When will this be over, and what is the market going to do next? But you know no one knows. This is a new challenge, and we have to face it and recognize what we are dealing with here. We have faced major health care challenges...
Now It’s Oil
Last week OPEC talks broke down when Russia refused to agree to proposed production cuts. As we have been saying in our recent letters, the coronavirus slowdown has reduced demand for oil and caused the price to decline. It just got worse. Over the weekend, Saudi...
Hecho en Mexico. Porque no?
As the sun comes up on another exciting day, European markets are up and US futures are up even more, after the Fed rate cut and down market yesterday, Monday’s huge rally, and last week’s rapid decline. Meanwhile, the 10-year Treasury is yielding well under 1%¹, a...
Four days in February
Monday seems like a long time ago. We sent out a letter about the Coronavirus Monday, and since then we have seen significant declines in equities and more news about the Coronavirus spreading. Thursday the Dow fell nearly 1200 points, sliding into “correction...
An Update On COVID-19 and the Outbreak’s Impact on the Markets
Coronavirus: COVID-19 U.S. equity indices fell sharply Friday and again this morning after hitting new record highs last week. And interest rates fell yet again, with the 10-year Treasury yield hitting 1.37% and the 30-year Treasury yield setting an all-time record...
It’s All In How You Look At It
Welcome to a new decade! This decade just seemed to fly past. The last thing I remember, the market was rebounding sharply in 2009 after the Great Recession. We started a new decade with a weak economy but a good equity market, predicted by exactly nobody, the...
Iran Situation
As we are sure you all know, the situation in the Middle East is tense and potentially dangerous right now. This situation would seem to have the potential to disrupt financial markets, but so far we are not seeing many signs of serious dislocation. That could...
