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Weekly TGIF

Weekly TGIF

Vulnerabilities Are Building

This economic expansion is the longest in recorded American history. We’re in its 11th year. The cycle is maturing. Growth is slowing. Volatile price action the last 20 months is actually fairly normal for a…
September 20, 2019
Weekly TGIF

Modernizing the American Way

Something which perhaps got lost in the constant headlines of trade wars and politics over the Summer was a decision that Corporate America made. It came from the Business Roundtable. Created in 1978, this collection…
September 6, 2019
Weekly TGIF

A Guy Named Steve

We lost someone special. His name is Steve. He passed just two weeks before his 80th birthday. Steve Noroian made an impact on pretty much all he encountered. He joined our firm five years ago.…
August 30, 2019
Weekly TGIF

Fast & Furious

I literally wrote two pieces earlier today, only to ditch the first, then the second, because the Market moving events kept building hour by hour. I decided just to wait until the Market closed for the…
August 23, 2019
Weekly TGIF

The Politics of China

We pay very close attention to politics, as they have significant influence on the Market. Our job is to interpret developments and anticipate impacts. It can be a tough task, considering how emotional and divided our nation…
August 16, 2019
Weekly TGIF

Interest and Negative Interest

This was an incredibly volatile week. The Stock Market was like a rollercoaster, with deep dives and massive surges which whipsawed investors around, but it ended the week at roughly the same place it ended last…
August 9, 2019
Weekly TGIF

Expansions, Indicators and Assets

This is officially the longest economic expansion on record in the US. Gross Domestic Product has now increased for 121 consecutive months, outdistancing the growth in the 1990s. The economy expanded at a 2.1% annual…
July 26, 2019
Weekly TGIF

Small Steps & Giant Leaps

This weekend marks the 50th anniversary of the Apollo 11 mission. On July 20, 1969, astronauts Neil Armstrong and Buzz Aldrin landed on the moon. "That's one small step for man, one giant leap for…
July 19, 2019
Weekly TGIF

Where’s The Money?

I visited the Federal Reserve Bank of San Francisco this week. It is the 12th District of the Fed, with oversight of the nine western states, including Hawaii, plus the Pacific territories. Of the 12…
July 12, 2019
Weekly TGIF

Summer Sizzle

I threw some Beyond Meat patties on the BBQ yesterday to see what all the hype was about. It looked like meat and sizzled like meat, many politely ate it, but a few discerning guests…
July 5, 2019