Monthly ArchivesMay 2016

May 2016 image

  Dear clients, potential clients and valued contacts, May turned out to be a fairly boring month.  While we speculated there would be sell in May and go-away, things didn't quite play out in that fashion.  The Fed has gone from dovish to hawkish back to dovish and then back again to hawkish since December of 2015.  As as result, the US dollar (and as a result commodities and stocks) have gotten whipsawed.  The Fed claims to be data dependent, but I'm not sure what data they are looking at.  While new home starts jumped in April half  of the strength in the report came from the  Northeast.  In April 2015, the Northeast built 1,000 homes.  This April, they built 5,000 ...

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The 10 Best Days Propaganda image

    I read a tremendous amount of research as I should as portfolio manager on behalf of my clients.  Some is good, some is bad, some is wrong and others are what I like to call Wall Street propaganda.  Having worked at 4 large financial institutions in my career, I've seen this propaganda take many shapes through the years.  I recently was sent a research report from a well known asset manager (that shall not be named) which was perpetuating a myth I have seen my entire career in wealth management.  This myth is regarding missing the best 10, 20 and 30 days in the market.  As the myth goes (and is perpetuated), if you missed  the 10 best days ...

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