Journals
Featured Journal Entry
Last week we discussed whether stock prices might be reflecting peak optimism. In that commentary we noted that while sentiment may be overly optimistic and a pickup in volatility would be totally normal, strong breadth measures suggest stocks still may have more upside. This week we tackle that same topic of peak optimism, but by…
POLICY SHIFTS MAY CHALLENGE MARKETS
Fiscal stimulus, which was central to the market rebound in the last year, may start moving to the sidelines over the…
PROCEED WITH CAUTION IN THE BOND MARKET
After one of the worst starts to a year for fixed income, returns may not get much better from here. Long-term intere…
STOCK MARKET GAINS LIKELY TO SLOW
After one of the best starts to a bull market in history, the rally has started to show signs of fatigue. A strong ec…
ECONOMY PICKING UP SPEED
The economic recovery continues, as the recipe of vaccines, the reopening, and record stimulus all have combined to p…
AMAZING EARNINGS SEASON
It’s embarrasing to admit this but in our earnings season preview on April 12, when the consensus
estimate reflected …
TIME TO SELL IN MAY?
“Sell in May and go away” is probably the most widely cited stock market cliché in history. Every year a barrage of W…
IS ALL THE GOOD NEWS PRICED IN?
Last week we discussed whether stock prices might be reflecting peak optimism. In that commentary we noted that while…
Peak Optimism?
Global stock markets are off to a strong start in 2021 as the world begins to emerge from the shadow of the COVID-19 …
THE EARNINGS BOOM IS HERE
The outstanding fourth-quarter earnings season we had in 2020 is a tough act to follow, but 2021’s first quarter has …

