Category Archives: Investing

Puzzling Over Equity

The stock market is a continually changing puzzle. Momentum and quality have ruled the last several years. Whither value? Emerging markets? Small caps? Continue reading

Posted in Emerging Markets, Equities, Investing | Tagged , , | Leave a comment

A Short Sharp Shock?

These fevered times bring back memories. For the first time since the seventies, we are facing a supply shock, a non-financial threat to our economy, While the Fed has responded already, it’s not the response we will ultimately need. Continue reading

Posted in China, Economics, Investing, Market Cycles | Tagged , , | 2 Comments

We Need to Talk About the Yield Curve

What is the yield curve and why should I care? The yield curve is a graph of the yields that government bonds are paying, arranged in order of time to maturity. You should care because the cost of mortgages, bank … Continue reading

Posted in Asset Allocation, Bonds, Equities, Investing | Leave a comment

It’s Time For Predictions; I Don’t Play That

Here we are at the start of a new year and a new decade. Is it really a new decade? Personally, I’m the sort who starts counting at one, not zero, but I’ll go along and say it is a … Continue reading

Posted in Asset Allocation, Equities, Investing | Tagged , , , | 3 Comments

Fire and Ice

Some say the world will end in fire, Some say in ice. From what I’ve tasted of desire I hold with those who favor fire. But if it had to perish twice, I think I know enough of hate To … Continue reading

Posted in Banks, Bonds, Central banks, Credit, Economics, Finance, Investing, The Fed | Tagged , , , , | Leave a comment

Diversification’s Gold Standard

I am an advisor with a past, a past managing global bond funds. For over twenty years, I invested in a vast array of markets and bond sectors around the globe. These included sectors like high yield and emerging markets … Continue reading

Posted in Asset Allocation, Equities, Investing, Market Cycles, Rates, Volatility | Tagged , , , ,

Man Plans, and God Laughs.

Der mentsh trakht un got lakht.  — Yiddish proverb Winston Churchill believed that he had limited time. His father, Lord Randolph Churchill, had died just shy of his 46th birthday. Sir Winston lived into his 91st year, smoking cigars and … Continue reading

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Does/Should the Fed Care About the Stock Market?

Once upon a time, in another millennium, I worked at the Federal Reserve Bank of New York. It was during the reign of Chairman Volcker, first of his name. One thing I did was prepare statistical packages for the officers … Continue reading

Posted in Credit, Economics, Equities, Investing, The Fed | Tagged , , , | 2 Comments

Collecting Is Not Investing

When I was 17, on the cusp of driving age, I had dinner at a friend’s house. I remember this particular dinner because of the question his dad asked me. This friend’s family was wealthier than most of those I … Continue reading

Posted in Investing | 3 Comments

Procrastination Has Its Price

April is the cruelest month, keeping me inside doing taxes while I stare jealously at my friends’ Strava feeds detailing their adventures and the miles they’ve ridden. April is also the month that many inflict cruelty upon their future selves … Continue reading

Posted in Investing | 2 Comments