The Way Forward
First Quarter 2020 Commentaries The longest running bull market finally met its demise in the form of a global health pandemic. The cessation of population movement quickly mutated into the …
First Quarter 2018 Commentaries
During the first quarter of 2018, stocks finally behaved like stocks. The return of volatility served as a jolt that awakens investors from the complacency of the steadily rising market …
First Quarter 2017 Commentaries
“Bull market climbs a wall of worries.” It was no exception for the first quarter of 2017. Despite record valuation, waves of political populism around the world and US Federal …
Fourth Quarter 2016 Commentaries
The year 2016 began so ominously. Yet it ended with euphoria and optimism. In the first month and half, the S&P 500 swiftly dropped nearly 10%. So it seemed …
Third Quarter 2016 Commentaries
There were a lot of noises of increased market turbulence, but not much actual volatility. There were a lot of speeches on raising interest rate, but no action materialized …
Second Quarter 2016 Commentaries
A Non-Expert View on “Brexit” “How may I serve you, Sir?” Thus spoke a pretty brunette with an Italian accent as I stepped to the counter at The Café …
Fourth Quarter 2015 Commentaries
The S&P 500 index which is representative of US large capitalization stocks started 2015 at a level of 2058.20 and completed its annual journey at 2043.94. It was a relatively …
Third Quarter 2015 Commentaries
It was a nasty quarter for stocks. It has been four years since investors last experienced such misery. For the quarter, S&P 500 were down 6.44%. From its peak on …