In my view there is a distinct relationship between passive investing and politics. It was reported yesterday that BlackRock and Vanguard—the dominant purveyors of passive investing--captured 57% of net global equity inflows in 2018. Inflows however dropped 70% from 2017. Passive investing...
Equities surged on Friday on trade and consumer optimism. The markets ignored the controversies in Washington believing at this juncture DC is nothing but a freak show. Oil continued its advance, rising to three month highs on the belief that ...
Initial data indicate retail sales fell by 1.2% in December from the previous month, the most since 2009. Most had expected an increase. What is even more confusing there was a pullback in a measure based largely on internet sales, which had been...
Equities partially reversed course following a tweet from Senator Rubio that his introducing a bill to tax stock buybacks and equal footing with dividends. I recall reading about his proposal several days earlier in a report talking about how stock buybacks is greater than...
Many times I have commented that today is tectonic. Geopolitically I believe current events are similar to eras as to when the Soviet Union dissolved in 1991 or the ascension of the US as a primary global power in 1946. The EU is in shatters. It...
Many times I have commented life is stranger than fiction. Yesterday’s WSJ commented that over two thirds of Americans receive their news from social media. Google and Facebook control a large majority of the digital advertising market that used to be a major...
Equities came under moderate pressure on growth and trade concerns. Moreover first quarter S & P 500 earnings projections were revised lower to a 2% decline versus a 1% drop forecasted a week ago. At year end results were anticipated to rise by...
Perhaps one of the biggest elephants in the room that is not discussed is the federal deficit. In my view, the issue at hand is spending not revenues. Generally speaking, spending is increasing at a rate two times greater than revenues. Tax...
Equities fluctuated on volume about 15% lower than average. The S & P 500 broached the 200 day moving average for the first time since early December. Earnings and economic data were mixed. Speaking of earnings, analysts are now ...
Fourth quarter earnings season is at its halfway point. Of the 234 S & P 500 companies that have posted results, 71% have exceeded forecasts rising by an average of 18%. Historically 64% of firms exceed expectations. At the conclusion of the season, profits are...