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Category: Investing

Our November Market Perspectives Webinar included a discussion of the following research topics: The End of Easy Money Are Interest Rates Approaching the Breaking Point? Why Are Stocks Going Down? “Markets in Turmoil” The 5 Kinds of Bounces Top Tweets Charlie’s Winter Reading List The Most Important Charts/Themes to Watch Click the link below for […]

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The 5 Kinds of Bounces

In a little over a month, the S&P 500 has declined more than 11%, giving back all of its gains on the year. This is the largest decline since … well, earlier this year. Corrections in markets are the norm, not the exception. Since March 2009, there have been 23 of them… That said, all […]

Fear is in the air again. Over the past few weeks, the S&P 500, Dow, and Russell 2000 have given back all of their gains on the year. Note: Index price returns, does not include dividends. Meanwhile, international indices have fared much worse, with the average country ETF down 14% year-to-date. Note: Total return, in U.S. […]

US manufacturing is booming. In a report released this week, the ISM Manufacturing Index moved up to 61.3, the second-highest level in the last 30 years. Data Source for all charts/tables herein: FRED, Bloomberg Many are saying that’s great news for the stock market because increased manufacturing activity is evidence of a stronger economy. This […]

“Lower interest rates justify a higher than average price-earnings valuation.” – Pundit You’ve heard the story before: Equity valuations are high… Interest rates are low…. Data sources for all charts/tables herein: Robert Shiller (http://www.econ.yale.edu/~shiller/data.htm) Ergo, high valuations are “justified” by lower interest rates. Why? Some argue that because stocks are the present value of future cash […]