A confluence of factors came together a week and a half ago precipitating a crisis in the banking system, not only in the U.S. but globally. Three banks have…
The market's weakness today (Thursday) was driven largely by the news that SVB Financial Group (SIVB) reported a loss of $1.8 billion on the fire sale of its …
Knowing the economy and investment market are not one and the same, and can function out of sync at times, possibly the current environment is such they are…
The S&P 500 has fallen in each of the last three weeks, down just over -4%. This leaves the Index down -2.56% this month with just two trading days remaining…
The impact of inflation on consumer pocketbooks varies, but inflated energy and food costs are a negative for consumer discretionary spending. Well publicized…
In August of last year Congress passed the so-called Inflation Reduction Act and included within the Act is a 1% excise tax on the fair market value of stock…
Since October 13, 2022 the S&P 500 Index is up 11.80% on a price only basis. For the start of 2023 the S&P 500 Index is up 4.16% through January 13, 2023. The…
Winter 2022 Investor Letter: Closing The Book on 2022
“A Bear of a Market” and “Nowhere to Hide.” These were a few of the headings from our Investor Letters last year, so along with most investors we are happy to…
With the market's close on Friday investors happily say goodbye to 2022. One area within equites that outperformed the broader market was stocks that had…
A few weeks ago I wrote an article covering the elevated level of the CBOE Equity Put/Call ratio and the fact it was in uncharted territory. At the time of…
Eyes are on the Fed again this week as the FOMC will announce their interest rate decision on Wednesday. Last month the Fed gave indications the magnitude of…
Recent levels for the equity put/call ratio suggest investors are exhibiting extreme equity market bearishness. A cluster of readings above 1.0 have occurred…
