Posts by Manager

Market worries over decelerating growth, earnings outlooks, rising interest rates, and tariff wars have all been discounted into stock prices in some measure at this point. Valuations and multiples have been compressed, in some cases fairly dramatically, and market volatility has increased. Yet, one does get the sense after a number of speeches by various…

After a week that felt like nothing but pure volatility, it may be helpful to focus on company commentary regarding earnings outlooks. In short, things are slowing, particularly among industrial firms and automobile manufacturers. Geographically, one of the worldwide growth engines, China, is sputtering. Investors are having a hard time reconciling these facts with the…

One data point does not make a trend, but yesterday’s powerful move off the bottom for many biotech equities offers some promise. Using the NASDAQ Biotech ETF, the IBB, as a proxy, one can clearly see the powerful move yesterday. Is this a new market leadership role, or a dead cat bounce? Todays action is…

While there have certainly been pockets of strength early into the third quarter earnings season, the overall tone has been largely negative, particularly as pertains to forward guidance. Pockets of weakness include industrials, autos, homebuilders, and consumer-related companies to name a few. Naturally, firms that serve these markets have been under pressure. One conclusion that…

  What if the Federal Reserve is wrong about inflation? What if instead of heading higher- curtesy of rising labor costs, inflation heads lower- owing to excess industrial capacity and slowing worldwide economic growth? What if the investor fears over rising interest rates and yields is wrong? What if the stock market leadership change away…

Oh, what a bitter cocktail- rising interest rates, slowing worldwide industrial growth, tariff wars, the mid-terms, China, and of course the calendar, its October! Plenty for investors to fret over, and perhaps we were due for a sentiment and Market leadership change. But while investors are fickle, and usually chasing the current theme, growth cycles…