We believe that there are significant reasons to believe that the post-pandemic recovery may be nearer, and could be stronger, than consensus expectations. Market rotations will be ongoing, creating volatility for affected sectors and industries. Investors can either approach these rotations tactically, or simply maintain exposure to their chosen themes Read more…
In March and April, the covid crisis sparked an unprecedented policy response from governments and central banks — first monetary, and then fiscal. As the magnitude and scope of these interventions became clear, the likely longer-term consequences for gold also became clear. Further events have only served to reinforce this Read more…
The U.S. stock market is clearly in a blowoff phase. Investors who think that this phase must necessarily be brief may well prove incorrect. Tens of trillions of investment dollars remain on the sidelines, waiting for an opportunity. We suspect that volatility, when it occurs, will be sharp and relatively Read more…
Gold’s rise continues. Since the shock-and-awe fiscal and monetary response to the covid shock got underway in March and April, we’ve been pointing out the obvious long-term impetus it would provide for gold. We won’t rehash all the data here — the big picture is obvious enough. The monetary expansion Read more…
Our interest remains focused on the tech and healthcare sectors as earnings unfold and companies offer some view of how they see the progress of economic recovery. Democrats and Republicans will likely soon wrestle through a further stimulus package, since neither wants to disappoint constituents ahead of an election season Read more…
A Note From Aubrey Ford, Our Client Relations Manager As interest rates have taken another fall, we’ve once again started hearing ads for low home-loan interest rates. Many use the angle that “this is the time to take advantage of these historically low rates, since they won’t last for long.” Read more…
In each earnings season, banks are among the first to report and help set the tone for what investors expect moving forward. We already knew that the second quarter of 2020 was going to be an earnings apocalypse — so much so that the quarter itself is largely irrelevant for Read more…
We have been asked over and over these past several weeks when we thought the bleep was going to hit the fan, and the market take another big plunge. The economic and investing environments are confounding — the tape action has the appearance of a bull market, yet so many Read more…
The news is shifting. Covid-19 is still front and center, of course. As we noted last week, we think the pandemic’s development is not as alarming as many believe. With several months of data now available, it has become clearer that the virus’ risks are heavily skewed towards older individuals Read more…
Depending upon their industry and its growth outlook, stocks in the U.S., Japan, other growing countries such as Canada, Australia, India, China, and Europe, are moving ahead. Depending upon their near- and intermediate-term outlook, some sectors are moving haltingly — sideways or down — and some are moving upward vigorously. Read more…
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