Market Commentary

Market Outlook

As the saying goes, "happiness is a function of reality exceeding expectations.” In other words, we are happiest when outcomes turn out better than we...
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Market Commentary

Market Outlook

The stock market, as measured by the S&P 500 Index (a broad stock market proxy), has tripled in price since the depths of the financial crisis in Marc...
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Market Commentary

Equity Market Outlook

As measured by the S&P 500 Index, the stock market has risen 10.6% since the U.S. Presidential election on November 8, 2016, including a 5.8% increase...
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Market Commentary

Market Outlook

During the 1988 World Series, legendary Los Angeles Dodgers’ announcer, Vin Scully, spoke these now famous words: “In a year that has been so improbab...
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Market Commentary

Negative Interest Rates: The Imaginary Has Become Reality

In finance and economics, negative interest rates were thought to be imaginary and impossible. In the last few years, the impossible has become realit...
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Market Commentary

Market Outlook: A Roundtrip Journey

The last market outlook I wrote for this publication was in July 2015. At that time, the S&P 500 Index, which serves as a broad stock market proxy, wa...
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Market Commentary

2016 Market Outlook

U.S. equity market returns for 2015 were challenging, with the price of the S&P 500 Index down 0.73% over the year. With a peak to trough difference o...
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Market Commentary

Market Outlook August 2015

Throughout the history of financial markets there has tended to be a high level of comfort amongst investors when prices are rising steadily. Everyone...
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Market Commentary

Is Forecasting Damaging to Your Wealth?

“It’s tough to make predictions, especially about the future.”—Yogi Berra
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Market Commentary

Noise, Noise, Noise!

How can an investor monitor political developments, listen to business news, analyze company data and try to follow it all closely enough to make sens...
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