Where Are We? – Emotional Capital City

Posted on Saturday, March 17th, 2018

Markets are about cycles. We see them repeat over time. The question now is where are we in the cycle? One important reason why we need to be aware of cycles is because investing is an emotional roller coaster.  If we jump out of the market too soon we risk under performance and client angst.… read more.

The Ides of March

Posted on Sunday, March 11th, 2018

“Beware the Ides of March.” As we know from Plutarch, a Greek biographer, a seer had prophesied to Julius Caesar that harm would come to him by the Ides of March. He would, in fact, be assassinated on that day. Wall Street is a superstitious lot but it’s the bears that may feel they got… read more.

Back to the Future

Posted on Sunday, March 4th, 2018

It has been our central operating thesis since the Great Financial Crisis that low interest rates+ low volatility+ larger central bank balance sheets would = higher asset prices. We are now entering an environment where we are seeing higher interest rates+ higher volatility+ smaller central bank balance sheets. We surmise that will = lower asset… read more.