The Dow closed above 20,000 for the first time on Wednesday, repeating the feat the following day. There are headlines any time the Dow crosses a 1,000 mark and that’s especially true of this latest milestone. Here’s our take. First of all, and to state…
The markets, which is to say investors, hate surprises, though that’s pretty much all we get day-by-day. It’s called news. But some years carry bigger surprises than others and 2016 surely falls into that category. From economics to markets to politics, 2016 provided one plot…
Recently, our strategic partners at Dimensional Fund Advisors (DFA) shared with us a playful comparison between the process of making wine and investment management. We hope you enjoy the following piece by Vice President of DFA Australia Limited, Jim Parker. A host of variables can…
Whatever your politics, it has been clear in recent weeks and months that the prospect of a Trump presidency held enough uncertainty to make investors and world leaders alike more than a little nervous. No one likes uncertainty. So here we are, asking ourselves what’s next?…
Although we’ve borrowed our title from Hunter S. Thompson’s book of essays on the 1972 presidential race, we’re here not to comment on Nixonian high jinks but on the closing days of the present contest. Fear and loathing seems an appropriate description of the public…
A few days after the first presidential debate, University of Michigan economist Justin Wolfers published a piece in the New York Times titled, Debate Night Message: The Markets are Afraid of Donald Trump. In it, he predicted that stock markets would fall 10% – 12%…
“Captain’s Log, supplemental.” Some of you will recognize these as the words spoken by Captain James T. Kirk after each commercial break, to be followed by a recap of what happened in the prior segment and a preview of the action to come. Those words…
When we wrote last Friday morning in the immediate aftermath of Thursday’s Brexit, global markets were in freefall and anxiety was rising. We acknowledged the potential negative impact on the UK economy and the probability of heightened volatility in the near term. We then noted:…
They did it. The Brits voted yesterday to leave the European Union, driven, if the polls got it right, by fears of an immigrant invasion. Hadrian built his wall, Trump wants his, and the Brits decided to Brexit. Global stock markets have fallen on the…
