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The Fed raised interest rates this week for the third time since December 2015. This has many investors concerned about the impact on the stock market. Monetary policy has been abnormally easy for years now while stock market returns have been strong, leading many to conclude that the opposite situation could be problematic. While that […]

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February Markets Webinar – Slides

Once a month we do a wide-ranging webinar on markets, covering stocks, bonds, commodities, currencies, the fed, the economy, and more. To receive invites to future webinars, sign up for our newsletter here. Below is a link to the slides from the latest webinar. Pension Partners – Markets Call – February 2017 This writing is […]

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2016: The Year in Charts

These are the charts and themes that tell the story of 2016… I. The Worst Start in History (January) The year started off with a bang as the S&P 500 declined 4.9% in its first 4 trading days, the worst start to a year in history. I cautioned at the time: “predicting bad things for the […]

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Embracing Panic

“I tend to stay with the panic. I embrace the panic.” – Larry David The stock market was down today. That fact alone is not at all unusual (47% of all days are negative historically). What was somewhat unusual is the aggressiveness of the selling in today’s session, what some would refer to as “panic […]

Is the Bond Bear Market Finally Here?

“Arriving at one goal is the starting point to another.” – John Dewey No one has been more wrong about the future than bond bears.  That may be about to change. For years, talking heads, analysts, and market prognosticators have been calling for higher rates.  I can’t begin to tell you how many conferences I’ve […]

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