We have the luxury, the honor, of speaking to a lot of individual investors here at Alhambra. Whether they are clients or future clients (optimism is my default condition), the most common view of stocks is that they are overvalued and a fall – a large fall – is inevitable. And there is no stock […]
A rising dollar, when combined with a falling rate of growth, can be a lethal combination.
Have we entered a new bull market? Was the 35% pullback in the S&P 500 in March the fastest bear market in history? Or is this just a continuation of the bull market that started in 2009, interrupted by a rather large correction? Bull markets and bear markets are about behavior, about the human emotions […]
Most everyone has heard of the Chinese proverb – or curse – that wishes one to live in “interesting times”. You’ve probably also heard that in Chinese the word “crisis” is composed of two symbols, one that denotes “danger” and another that means “opportunity”. Well we certainly live in interesting times and there is indeed […]
“Intelligence is the ability to adapt to change.” Stephen Hawking The economic news over the last month has been as awful as anyone alive has ever seen.
The timeline for recovery in the oil market was obviously overly optimistic. Markets now have to price in something that takes longer
It doesn’t take much effort to find bearish sentiment about stocks or the economy right now. CNN’s Fear & Greed Index, an amalgam of seven discrete market sentiment indicators, is still in the “Extreme Fear” zone. Generally, market bottoms are associated with extreme fear while tops are associated with extreme greed. And it generally works; […]
Investors shouldn’t get too excited about the rally, says Joe Calhoun.
As I sit here Monday evening with the Dow having closed down 2000 points and the 10-year Treasury yield around 0.5%, the title of this update seems utterly ridiculous.
The Treasury market looks a tad overdone.