It feels like déjà vu. Coming into the home stretch of 2022, stocks are living up to their historical tendency to rally in the final months of the year. But
New Lows, New Rally The S&P 500 hit a new low for the year when it sank to an intraday price of $3,491 on October 13. This didn’t stop the
Stocks took a sharp turn lower in September with the S&P 500 falling more than 9%. This setback deflated the bulls who had been energized by a strong rally that
Hopes for a new bull market were running wild after this summer’s comeback rally; however, we are seeing the return of volatility and downside risk once again. Cracks appeared in
The last market update mentioned that in a mid-term election year, stocks have often rallied in the second half of the year after weakness in the first half. July certainly
As expected, neither stocks nor bonds reacted very well in the first half of the year to a rise in inflation which hit an annual rate of over 8% in
One of the best analogies for the financial markets is a voting machine. A machine bound by the competing expectations of investors. Optimists versus pessimists. Realists versus idealists. Many would
In recent years, investors have grown accustomed to market downturns that have been short-lived. We’ve seen sharp declines followed by fast recoveries. We saw this in the last quarter of
Though we often feel a certain nostalgia for the past, I have mixed emotions for the seventies. Besides being the decade where I spent my awkward teenage years, it was
In America, we woke yesterday to hear news of Russia invading Ukraine. Tensions had been building in eastern Europe for several weeks as Russia began to amass troops on their