Investor’s Worst Enemy: Too Much Information

We live in the digital era. For investors, this means having the ability to consume an updated news story at every second of every day. Investors can also curate their consumption of news, by only choosing to follow or believe news stories that reinforce a certain point of view. In behavioral finance this is known […]

A Bear Market for Bonds?

After 30+ years of hibernation, bond bears are starting to emerge from the caves. Their heightened concern stems from the sharp selloff in bonds we’ve seen since the U.S. presidential election. On November 8, the yield on the 10-year US Treasury was 1.88%. As of January 13, that yield jumped to . For those keeping […]

Why You Should Forget About the Dow Reaching 20,000

There is a growing fascination with the Dow Jones Industrial Average (DJIA) reaching 20,000. The index has never reached that level, and there’s an ongoing narrative that reaching and eclipsing that number is a big deal. The emergence of this narrative isn’t surprising – humans have an affable obsession with landmarks and anniversaries, so of […]

The 2016 Year-in-Review…And Predictions for 2017

At the beginning of 2016, I optimistically relayed my belief that stocks would perform better in 2016 than they did in 2015. In 2015, the S&P 500 rose a paltry +1.36% on weak earnings growth propelled by the Energy sector drag. Here is a direct quote from an article I wrote in early January of […]

Is Trade Killing US Industry?

The campaign season brought tough and sometimes harsh rhetoric on trade – from both sides of the aisle. A candidate running for president essentially has no choice. In order to reach Rust Belt voters dealing with the real pain of lost jobs and declining industry (as a result of those jobs moving overseas), a politician […]

Post-Election Bond Rout – Trouble Brewing?

U.S. Treasuries have sold off sharply since the November 8 election. The 10-year U.S. Treasury went from 1.88% on November 8 to 2.14% on November 18, and the 30-year saw a similar spike in yields from 2.63% to 3.01% over the same period. With interest rates so low, these may just seem like incremental upticks, […]

Post-Election Shock: What Should Investors Do Now?

The United States shocked the world and just about every pundit and pollster with the election of Donald Trump as the 45th president. But the reality is: maybe no one should have been surprised at all. If you consider Brexit and the rise of populist movements across Europe, it is clear that citizens of developed […]

How Should Investors React to Trump’s Election?

No matter who you supported this election, the last year presented perhaps the most grueling and polarizing campaign season in U.S. history. The mood of the country is flummoxed—are we feeling relief, anger, uncertainty, optimism, pessimism, hope, or despondency? It is an interesting time. Depending on how you felt about the outcome, you may be […]

Will AT&T Buy Time Warner?

Already a leader in mobile, fixed telephone and satellite television services, AT&T is apparently looking to boost content – by acquiring TV Network Time Warner. And, it’s willing to shell out $85.4 billion for it. AT&T is already a provider of broadcast television services through DirecTV. But, as online video streaming rapidly takes over traditional […]

Is the Corporate Borrowing Binge Out of Control?

Earlier in the year I wrote about corporations taking on a record amount of debt, and the storyline has not changed in the few months since I penned that piece. New corporate debt issuance is set to eclipse $1.5 trillion – that’s right, trillion ­– this year, and a majority of the new debt is […]