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Technology companies comprise a record 23% of the S & P 500. However, a strong argument can be made that tech comprises over 50% of this marquee average if the descriptive nomenclature is ...

13 May, 2020

Long dated Treasury yields are falling at a faster pace than in the beginning of the 2008 financial crisis. Bloomberg writes the 10 year Treasury is near the most overbought territory since 1998. The last two time Treasuries were so overbought was ...

04 June, 2019

Yesterday a SEC official warned that passive investing may pose a threat to investors as many may be complacent about the inherent risks involved.  Warren Buffet once quipped if one cannot withstand a 40%-45% loss, that person...

07 December, 2018

Is the 10 year run in the NASDAQ/techs over?  Will such an ending also coincide with the peak in passive/index investing? In my view the issue at hand is the relentless drive to reduce costs by eliminating the middle man via indexing that it in itself...

20 November, 2018

Where to?  During the last 45 days it appears everything is going wrong at once.  Commodities led by a record plunge in oil, have been crushed.  In equities, the FAANG complex is down about 25%.  Debt markets have been rattled by the turmoil engulfing GE...

19 November, 2018

A theme that I have pursued throughout 2016 is a rotation from mega capitalized growth entities into the smaller caps and value shares.   Some of the comments I received about this potential rotation could not be printed, but were generally along line that if the...

02 December, 2016

The Dow was again quiet yesterday after a three week 1,500 point advance from the post Brexit lows.  As all know, the Dow fell about 1,000 points in three days only to regain all these points plus 500 more on the announcement of yet even...

20 July, 2016

This week the markets may be myopically blinded by Thursday’s Brexit vote.  As noted several times I rhetorically think Britain will remain in the EU for the simplistic reason change will create an unquantified environment.  Human nature dictates one fears more of what they don’t...

20 June, 2016

Treasuries fell yesterday on speculation interest rates may rise at least twice this year.  As noted many times, there is a massive disconnect as to what the market thinks the direction of monetary policy will be in 2016 and the direction the Federal Reserve is...

19 May, 2016