Negative EPS revisions mythbuster
Myth: The market multiple cannot expand as outyear estimates move down.
Read MoreMacro
Tony is best known for the practical application of macro data. He will use his 30 years of experience to evaluate what data matters and how you can apply it to your investment process.
July Macro Slide Deck
Our core fundamental thesis driven by credit remains constructive, the Fed is likely to cut rates at the end of the month and again toward year end, the various…
Read MoreFirst rate cut playbook and Zweig market wisdom
In the early 1990s, I was privileged to work in a department at Prudential-Bache Securities and was partially responsible for marketing one of Marty Zweig’s funds to the retail…
Read MoreDon’t take the bait – it is about inflation
The media is trying to portray today’s Fed decision as something between Chair Jerome Powell and President Donald Trump, but we firmly believe a Fed rate cut was coming…
Read MoreSmart money mythbuster
Myth: Over many client conversations in the past month we have noted a healthy amount of skepticism toward the market and found confirmation via a “smart money” measurement. According…
Read MoreNew high mythbuster
Myth: Last Friday, the percentage of S&P 500 (SPX) components making a new 52-week high surged from 0% to 22% in less than two weeks, but is was led…
Read MoreJune Macro Slide Deck – Sticking with the plan
There is no question the economy is slowing dramatically, but contrary to popular market opinion, that has always been the bull case for equities in 2019.
Read MoreMarket participants remain skeptical
Two reports out this week showed that investors are getting even more uneasy with the current market environment. Both Investors Intelligence and Association of Individual Investors (AAII) reported a…
Read MoreTrust the thrust (and the plan)
When you have extreme overbought and high optimism where everyone is on the same side of the boat, it sets the stage for a market correction. The increased trade…
Read MoreTariff man drops UST yields
President Trump has proposed placing scaling tariffs on Mexico to stem the flow of illegal immigration. The tariffs are to begin with 5% on June 10 and scale to…
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