The Oedipal Complex Market Selloff

We tend agree with the old trader’s adage that “Retail investors open the market and institutional investors close it.” Domestic US Google search volumes for the term “stock market” typically peak …

The Mnuchin Weak Dollar Policy

“A strong dollar is in the long term best interests of the US.” Those simple words are something called the “Rubin doctrine”, after 1990s Treasury Secretary Bob Rubin. Most of his …

Q4 GDP: Man Vs. Machine

With Q4 GDP on the economic calendar for Friday, today we want to take a last look at what two regional Federal Reserve models have to say on the topic. Both the …

Volatility – Love It Or Leave It

Equity investors have a love-hate relationship with the concept of volatility. In the “Love” camp: as a matter of practice (if not theory), you need some volatility to see asset …

The Future Ain’t What It Used To Be

We recently completed an analysis of rolling 20-year total returns for the S&P 500, and the results were not what we anticipated. You probably know that the very long average return …