For the first time in 20 years, markets will have to survive without support from central banks.
Eye on the Market: The Verdict
Michael looks at the midterms: GOP gains in the Senate, an historic loss in the House given economic and market conditions, and what it means for investors.
In this year’s Holiday Eye on the Market, Michael records a note to his spouse on her father, the 2020 US Presidential election, and what might be the widest ideological divide in 100 years.
2018 has been another year of American exceptionalism in equity markets.
2018 has been another year of American exceptionalism in equity markets, with our enthusiasm tempered by the tech-dependence of equity returns, high valuations, fading stimulus and constitutional/tariff risks.
Michael reviews current market dynamics, walks through four investment strategies that have performed well over multiple cycles as this one enters its latter stages, and shares his thoughts on the Helsinki summit.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Explores how institutional investors should reconfigure portfolio allocations/strategies in a world of low returns.