Once upon a time, there were two professors, a paper, a three-factor model, and ultimately a Nobel Prize. 1992 was a good year. The story was...
A Look at May 2020
We just completed our second month of the second quarter of 2020, after the virus issue created a rapid bear market across the globe in Q1. Since...
A Cautiously Optimistic Economic View From Mohamed El-Erian
It seems every week brings news, and during this difficult period, it is not a bad idea to check in more frequently. We have mentioned Mohamed...
Why Is the Stock Market Rallying When the Economy Is So Bad?
I have been reading this article from The Wall Street Journal for a week or more, updated as the market continues to rise. A client also sent it to...
Learning to Cope
Would you rather listen to this month's client letter? Download "Learning to Cope" from our podcast. As we enter the next phase of the coronavirus...
Not Your Father’s USO Show
This week the oil markets experienced the most unusual collapse ever. There was hope that oil prices would stabilize after the April 13...
First Quarter 2020 Market Overview
The beginning of the year feels like so long ago that it may be hard to remember investors entered January with a sense of optimism. The US and...
A Brief Update on the Markets
This has been an eventful week. We had big new developments from the government, including the Fed's announcement this morning of a multi-trillion...
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...
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...